CCDC is finally realizing that there WON’T be 70,000 people living downtown unless they import a bunch of low-income people
Very interesting economic model for the downtown of a major US city:
When it gets to the point that nobody can afford (or banks aren’t lending on) all the over-priced condos that you allowed (encouraged? partially funded with taxpayer money?) to be built in your downtown area, buy them all up with taxpayer money and turn them into government-subsidized housing projects for low-income people
Don’t worry about the degradation of neighborhoods that often comes with subsidized housing – when the people who bought downtown for market value move out in disgust (or fear of their lives) you can buy their property at a discount and turn it into subsidized housing too
