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Sunday, May 26, 2013

Phoenix Councilman Simplot: City needs more high-end housing


 If Phoenix is going to attract more professionals to the city’s center, it needs to shift direction from building so many affordable-housing projects and focus on higher-end development instead, according to Councilman Tom Simplot.

Simplot estimates that in the past few years, 90 percent of the city’s multihousing projects have been designated affordable housing.

And that’s too much, Simplot said. Phoenix should focus on making city-owned lots available for market-rate and high-end development projects.

He plans to introduce a proposal to offer up city land for this kind of development at a subcommittee meeting this month. But not so fast, some real-estate experts say. Not only are recent low-income residential projects a good thing, the country’s sixth-largest city needs even more.

Simplot, president of the Arizona Multi-housing Association, a trade organization for apartment communities, said new affordable-housing projects have been popular throughout the city.

Read more: Phoenix Councilman Simplot: City needs more high-end housing

Reuters: Business News

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