So i get the paper today and don't know why i read it, all i do is get upset. So the Housing Trust is going to buy a house on Eisenhower Drive for not more than $330,000 and it needs a roof and windows and the furniture needs to be "serviced" what ever that means. Then they are going to sell it as Affordable Housing for $160,000. Doesn't add up to me as a business man. But of course we are not talking a business here are we. No, we are talking town money. Then at the very end of the article it states "The trust receives funding from the Community Preservation Act. So lets waist some more of that money. Am i the only one that thinks this is stupid?
we do not belong in the real estate business in any way, shape or form. we have proven over and over again that we are unskilled at it and it costs us. foundry st ballfields, gill property, lending/giving money to a private developer at shovelshop. where is that money anyway ? arent those condos supposed to be sold by now ? i think some percentage of the money "must" be spent on affordable housing. we should find some developer skilled at it to partner with. we simply dont know how. watching a few flipper shows on tv is not enough. leave it to the pros.
Eisenhower Drive was built in the late 1960s/early 1970s. Not sure where the new Easton residents on Eisenhower Drive moved from,however, do recall a good number of these residents brought in a huge influx of high achieving students into the Easton schools in the 1970s.