Slashdot Mirror
George Lucas Building Low-Income Housing Next Door To Millionaires
BarbaraHudson writes His neighbors wouldn't let him build a film studio on his land, so George Lucas is retaliating in a way that only the cream of Hollywood could — by building the largest affordable housing development in the area — and footing the entire $200 million bill, no government subsidies or grants. The complex of affordable housing, funded and designed by Lucas, would sit on 52 acres of land and provide homes to 224 low-income families, and there's very little his fellow Bay Area residents can do about it, because the land is zoned residential.
It is the Bay Area, so $892,000 per house isn't too far off...
Slashdot still doesnâ(TM)t support Unicode after it was added to the HTML standard in 1997.
In the UK this newspaper is infamous and synonymous with made up far fetched fiction,,
File next to Soviets have a base on the dark side of the moon and the queens an alien
The crackheads, vandals, discarded needles and condoms, and cars getting broken into will do a better job than even that. Trust me, nothing can ruin a neighbourhood faster than subsidized housing.
> At 224 units at a *very* low rate of 500 a month that is 1.4 million a year. Not a bad ROI.
You're right. It's not bad... It's HORRIBLE. He's putting 200$ million into it.
yes and that 200 million is not being burned, it remains in the building which will likely appreciate over time, the whole while making a substantial dividend off it
From what I read over at http://www.marincounty.org/mai...
It looks more like:
120 two- and three-bedroom residences in one four-story cluster
Two other two-story clusters
104 one- and two- bedroom residences for seniors in a four-story cluster
Community center
Pool
Terraced gardens
Orchard
Small farm
Barn
Interior roadways with two bridges
Golden Gate Transit District bus stop
"If it ain't broke, it doesn't have enough features yet"
In Marin, the rest of the world's upper middle class is low income.
This space intentionally left blank
In CA, the disparity in property taxes is not why some public schools have more money than other public schools. While there are some problems with how it is implemented, in CA, school funding is mandated to be equal, regardless of the local property tax revenues.
The inequity comes in when you factor in private fundraising.
I don't always use unix-like operating systems; but when I do, I prefer FreeBSD.
You understand that there is essentially no correlation between school spending and student achievement?
https://www.americanprogress.o... or try some googling.
The inflation-adjusted cost of schooling has tripled since 1970, with no discernible improvement in education outcome.
Prove anything by multiplying Huge Number times Tiny Number
I believe the typical rule of thumb when buying/building a house (bubble aside) is that it's worth ten years rent - more than that and your money is better spent elsewhere. At 1.4 million/year this thing won't be able to pay for itself in a century. So lets just be happy that some rich guy is throwing his money away in a way that benefits the little guys, even if he is doing it for all the wrong reasons.
I've got to wonder though - how exactly do you go about spending almost $1M/unit to build affordable housing?
--- Most topics have many sides worth arguing, allow me to take one opposite you.
I'm not saying he's a saint or anything, but for a billionaire who has changed the shape of our culture, he's actually pretty down to earth. Don't get me wrong, we don't hang out or anything, but in my experience he's consistently gracious, well reasoned, and well intentioned. Mock him all you want for Star Wars decisions, but never question his integrity. He deserves better.