Replacing multi-family with single family

Why are there so few multi-family green projects? These projects are harder to build, more expensive to construct, and when units are offered for sale, generally target higher-income buyers than single-family homes. There is also the matter of general unease about multi-family projects attracting the ‘wrong element’ and reducing property values. Others can fight those myths.

This article in the Columbus Dispatch discusses not only the replacement of a 161-unit multi-family property with 30 single family homes, but also outlines the subsidies in place to reduce the density:

1. $260,000 land donation from Columbus to non-profit developer.

2. $390,000 donation from Columbus for roadway and sidewalk improvements.

3. $850,000 donation from Columbus for detention pond and drainage improvements.

4. 15-year 100% tax abatement for homeowners.

So there you have it — 30 single family green homes replacing 161 apartments for a $1.5 million subsidy.

City sprouting green homes