07-21-2015, 12:25 PM
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Confirmed User
Industry Role:
Join Date: Feb 2010
Location: California
Posts: 3,068
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Quote:
Originally Posted by L-Pink
Cost for the project will be around 135 million. 224 units will be built averaging $603,000. per unit for "affordable housing. Only in California.
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It will be "affordable" because Lucas won't be charging market rates (if he rents the units out), or demanding fair market value (if he sells the units). It will all be much lower. So if he goes through with the plan, he intends to lose money, just to spite the community.
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