Jeff Carroll’s Post

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President of Tartan Residential, Inc.

Many people have difficulty distinguishing between "millions," "billions," and "trillions." Professional politicians take advantage of that by making sweeping proclamations that sound grand but are, in fact, puny. Case in point. The headline of this article sounds like big news ("Opening of $23.6 Million Affordable and Supportive Housing Development") until you read on to find that only 42 units were built (at $561k per unit). Indeed, President Biden often confuses "millions," "billions," and "trillions" in his speeches (sometimes in the same sentence) but many people just can't see how little "millions" are compared with "trillions." And here's the kicker. With $35 trillion in national debt and almost $200 trillion in unfunded liabilities, at some point we'll start hearing the term "quadrillion" (a thousand trillion) in our daily news reporting, making the discussion even more confusing. From the piece: "Governor Kathy Hochul today announced the opening of Apartments at the Lyceum, a $23.6 million project that transformed a historic former school, the St. John Kanty Lyceum, in East Buffalo into 42 energy-efficient affordable apartments and a community service hub. The project brings much-needed affordable housing to the Broadway-Fillmore neighborhood of East Buffalo, including 12 units of supportive housing set aside for formerly homeless survivors of domestic violence." https://lnkd.in/eAy6-DgJ

Governor Hochul Announces Opening of $23.6 Million Affordable and Supportive Housing Development in East Buffalo

Governor Hochul Announces Opening of $23.6 Million Affordable and Supportive Housing Development in East Buffalo

governor.ny.gov

Greg Schenk

I help companies with site selection and lease negotiations .Commercial Real Estate expert . Exclusive tenant rep advisor ,national speaker/educator, investor , [email protected] 614-496-2715 schenkcompany.com

2mo

Thank you, Jeff for your wise words there’s no such thing as affordable housing if it’s 561,000 per unit

Chip Dobner

CEO-The AAPCO Group-A National Renovation General Contractor

2mo

In my opinion, 500K+ a unit for ‘affordable housing’ seems repulsive, contradictory, and greed based instead of generosity based.

ridiculous over subsidy. ny has 4 credits. fed low income state low income fed historic ny historic. if u do a bond deal you basically return dollar for dollar in equity with only a few lifer state regulators to stop you. you have EVERY INCENTIVE to spend like a drunken soldier because u make 15% on what you spend. call it get three bids and take the highest bidder plan.. just more evidence of a state that long ago lost its way. everyone making money - gc , developer, unions, subs, - all winning except the taxpayer, the guys leaving the state in droves. the ponzi scheme that is NY state will be gone soon enough.. their behavior is unsustainable

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