Psalm73 (@Psalm73)

Minnesota Math: This "affordable housing" comes with a luxury price tag, over $500k per unit. My esti-guess for the cost per square foot here is $750 per square foot. Cost for a modest midcentury home in the suburbs is $200 per square foot. Those are being bought up by landlords, millennials who trade up after a few years, immigrants, Minneapolis refugees, and group homes. Rule of thumb: monthly rent should be about 1/100th of the dwelling's value. Value and development cost are not the same thing, but even so, hardly anyone around here is paying $5000 per month in rent. This project should have never been built. https://kstp.com/kstp-news/top-news/rising-costs-to-develop-affordable-housing-in-the-twin-cities-prompt-new-calls-to-do-better/