Affordable Housing: How much is too much?
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Spokesman-Review file photo by Rajah Bose
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From our editorial today about the proposed “rescue” of the Martindale apartment building in Hillyard.
It is noteworthy, then, that a plan is in the works to reclaim the Martindale. Northeast Washington Housing Solutions – the Spokane County housing authority – spent $651,000 to acquire the aging, neglected structure and intends to start raising funds to restore the 50 units.
But at $11.8 million, the cost is a startling $236,000 per unit….
Still, $236,000 a unit? If the housing authority can raise $11.8 million for low-income housing, the agency needs to weigh its options and make sure it spends those funds as efficiently as possible.
How much is too much? Blog lines are open.