Our CA town requires developers to set aside “below market rate” units in every new project. Maybe 1 out of 1,000 win the lottery. “””
Keep in mind that the other purchasers of those new units pay for the difference in price for the break on the ‘below market rate’ units.
IF 10% are ‘low income’, the other 90% of the units MUST be priced higher to make up the difference for the developer.
Are you SURE about that? I heard the magical free housing fairy built those units at zero cost and nobody else was paying a higher price to subsidize those “life’s lottery” winners.