AARP seems to think age-restricted housing is overdeveloped
You may recall this Richmond Glen / Serenity Ranch exchange that was printed in the MRJ a week ago:
During Fazzone's presentation of the request, Town Councilor Tim White questioned the value to the Town of granting the easement.
Fazzone answered that there would be a benefit. "It would appear to be a tax-positive to the town," he said.
"I'm not convinced of that," White replied.
And I continue trying to get to the reality of this proposal - rather than simply accepting the eleven word answer and ten bucks - before supporting the easement grant. As such, a constituent (and fellow blogger) dropped me a letter and article in the mail. Thankfully, I was able to find the April 2, 2009 article online.
Kenneth J. Cooper wrote for AARP:
The market for age-restricted housing has gone bust as the economic downturn prompts many boomers, unable to sell their homes, to age in place instead...
sales of new homes have lagged so badly that many developers have asked to lift the age restrictions—typically requiring residents to be 55-plus—they had imposed. Local officials have often granted the requests, rather than have near-vacant complexes.
And though the article doesn't mention CT, it does mention both New Jersey and Massachusetts where "some towns have lifted age restrictions."
Tim White
Thanks to Ms. S!
4 comments:
Whether age restricted or not, high density housing should NOT be put in this part of town. This area is one of the last parts of town with open fields and some chance that real agriculture.....not the greenhouse industrial kind... can survive.
Fazzone's clients won't stop until every square inch of Cheshire is paved over and the demand for services and higher taxes will force average taxpayers out of town.
As taxes go up, housing prices go down since both are a component of people's "monthly payment"...what they can afford. This will be especially tru in the economic doldrums that we face over the next several years.
Overdevelopment is NEVER a good idea.....and this development is NOT a good idea....especially under the murky approval process that this one has traveled. There is a strange smell coming from town hall......and the Chamber if they are not careful.
"Fazzone answered that there would be a benefit. "It would appear to be a tax-positive to the town"
Fazzone is Fazzone and his job is serve his client. It's not his job to serve the citizens of this community. He can say anything and later after approval say that conditions and the market has changed, and as a result they will have to build smaller units that will cost much less and yield much lower taxes than was presented to the town council. I would guess that any tax revenue would be less than $5,000 per unit and therefore pose as an additional liability to the town.
It becomes the responsibility of the council to figure out the true cost to the town and that cost should include capacity charges for the sewage system. What worries me is that the Dems will simply rubber stamp this instead of representing the taxpayers. Why think when it's a developer who wants the taxpayers to enrich them.
Seldon Dill should definitely recuse himself and if he doesn't, he shouild resign.
When Dill was put on the Council by the Dem's, didn't some people question possible conflicts?
Now we are seeing the conflicts.
If he doesn't have the sense to recuse himself, the Chamber ought to direct him to do so to avoid any bad PR.
Go look at the new 55+ condos they just built in Hamdenon Todd St (near Wentworth's Ice Cream). They thought they could sell them for $275,000 to $375,000. They have now been reduced by as much as $50,000 and they still can't sell them.
What makes them think the 55+ generation will step up and buy in Cheshire? Especially knowing that our taxes continue to go up the way they are. This older generation won't be moving here for the school system. You have to remeber, it is that generation that is very fearful in this economy since they are either retired or close to retirement and they have seen all their investments drop drastically in the past year.
Please don't let Brodach snow you, he is in it for the almighty dollar and doesn't care who he takes advantage of to get it.
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