Boom Very Focused Group
A focus-group questionnaire distributed recently to prospective condo buyers at First Church Seattle , a sanctuary undergoing redevelopment at the intersection of 15th Avenue East and East Denny Way (right by Group Health), posed the following question: “If you are buying a $1.5 million unit, would having some smaller 750K units in the building be a drawback?” How the definition of riffraff has changed on Capitol Hill: from drunks and vagrants to folks who can afford to spend $750,000 on a condo.
Presumably one of the reasons people move to Seattle, and Cap Hill is to be around young, vibrant, up-and-coming folk. You know, people who struggle to afford a $600 /mo apartment, let alone a $750k condo.
I wonder if "affordable apartments downstairs" could be turned into a selling point for multi-million dollar condos upstairs. "Live with the next great _____." If a developer could charge a bit more for this selling point, perhaps they could subsudize some apartments, and have an interview process like rent controlled buildings in NYC...
Uh.. wow, this is idealistic and naive, even for me. ;p