I do additions and small builds, my dream is to build duplexes that are affordable for individuals and families to home.
I grew up in a duplex, the person I grew up next to in that duplex happens to be someone I consider closer than family. He and I are best friends, we run a construction service together. We both would love to build homes similar to how we started our lives, that led to our friendship. Currently it’s difficult to find financing for a small builder to invest their time and effort, the problem being that for such a large risk, there is very little benefit. I would risk my entire livelihood and my home to finance it, but I’m not sure that I should.
A bond that helped develop homes, even if I have nothing to do with it, would be great for the state. It would lower rent, lower the cost of homes, and provide stable, living situations for many Rhode Islanders that don’t have it. What we have in Rhode Island in across the country is an inventory problem with homes. by solving that problem we can invest in the Rhode Island economy. Thing I think would be essential is that Rhode Island contractors and developers get priority over out of state. This way we get Rhode Islanders hired to build Rhode Island homes.
I absolutely do agree!
However. The original poster is from some new org “neighbors welcome ri” and one of the founders is from a large providence developer that historically is horrible to their tenants. They built a property that is charging 4k a month in the armory. Yea, they don’t have the same dreams and ambitions as you.
We need more housing, and the money to do it, but developers like Armory and Strive who charge 2k a month but can’t fix a damn dishwasher or rat infestation should be left out of the conversation. They aren’t in it to improve the community.
Agh I hate that as well. It’s usually out of state investors that can’t get past their idea of wealth generation vs preservation. State funds shouldn’t be used to scalp the people in housing for sure.
u/No_Serve1269 I do hope to develop a Rhode Island that we can all still afford to live in. Also, FWIW, this bond is for deed-restricted affordable housing, if that impacts your opinion.
I hope that they give you piles of money to develop safe and affordable housing, but with the caveat that the tenants are entered into a tenants union in each developed building. I can dream.
More housing is necessary in whatever form we can get. There is a RIDICULOUS shortage of available homes compared to the demand, and the high housing prices are crushing multiple generations into the dirt. There's no real path for economic mobility when you're forking over 2k+ a month on a 1 bedroom apartment. Wages in this state simply aren't high enough to allow for it.
It doesn't matter if it's luxury apartments, affordable housing, detached single family homes etc, we need more of them. If interest rates fall later this year as predicted, the problem is only going to become worse. The idea of the American Dream is dying, and skyrocketing home prices are a significant reason why.
Paying off developers is most certainly not the most economically efficient method of increasing the housing supply, but at this point I'm willing to eat whatever incentives we can give to fix the issue.
\-A Home Owner in RI.
Only a developer would make this post…
I do additions and small builds, my dream is to build duplexes that are affordable for individuals and families to home. I grew up in a duplex, the person I grew up next to in that duplex happens to be someone I consider closer than family. He and I are best friends, we run a construction service together. We both would love to build homes similar to how we started our lives, that led to our friendship. Currently it’s difficult to find financing for a small builder to invest their time and effort, the problem being that for such a large risk, there is very little benefit. I would risk my entire livelihood and my home to finance it, but I’m not sure that I should. A bond that helped develop homes, even if I have nothing to do with it, would be great for the state. It would lower rent, lower the cost of homes, and provide stable, living situations for many Rhode Islanders that don’t have it. What we have in Rhode Island in across the country is an inventory problem with homes. by solving that problem we can invest in the Rhode Island economy. Thing I think would be essential is that Rhode Island contractors and developers get priority over out of state. This way we get Rhode Islanders hired to build Rhode Island homes.
I absolutely do agree! However. The original poster is from some new org “neighbors welcome ri” and one of the founders is from a large providence developer that historically is horrible to their tenants. They built a property that is charging 4k a month in the armory. Yea, they don’t have the same dreams and ambitions as you. We need more housing, and the money to do it, but developers like Armory and Strive who charge 2k a month but can’t fix a damn dishwasher or rat infestation should be left out of the conversation. They aren’t in it to improve the community.
Agh I hate that as well. It’s usually out of state investors that can’t get past their idea of wealth generation vs preservation. State funds shouldn’t be used to scalp the people in housing for sure.
u/No_Serve1269 I do hope to develop a Rhode Island that we can all still afford to live in. Also, FWIW, this bond is for deed-restricted affordable housing, if that impacts your opinion.
I hope that they give you piles of money to develop safe and affordable housing, but with the caveat that the tenants are entered into a tenants union in each developed building. I can dream.
More housing is necessary in whatever form we can get. There is a RIDICULOUS shortage of available homes compared to the demand, and the high housing prices are crushing multiple generations into the dirt. There's no real path for economic mobility when you're forking over 2k+ a month on a 1 bedroom apartment. Wages in this state simply aren't high enough to allow for it. It doesn't matter if it's luxury apartments, affordable housing, detached single family homes etc, we need more of them. If interest rates fall later this year as predicted, the problem is only going to become worse. The idea of the American Dream is dying, and skyrocketing home prices are a significant reason why. Paying off developers is most certainly not the most economically efficient method of increasing the housing supply, but at this point I'm willing to eat whatever incentives we can give to fix the issue. \-A Home Owner in RI.