gentrification

Charlotte balks at doing away with single-family zoning

You'd be surprised at how many people have torches & pitchforks in their garage:

Charlotte City Council members on Monday hit the brakes on the city’s ambitious 2040 Comprehensive Plan over its call to eliminate single-family-only zoning.

The city has been holding public meetings about the plan for months. But as the deadline approaches to approve it, some council members are hearing concerns from residents who are worried about the changes.

Of course they're hearing concerns from residents, because anything you try to do will result in concerns from residents. Hell, I tried to change the route of our fledgling public transportation system so it would run through a densely-populated middle-class area (because people had complained there weren't any convenient stops), but I was told, '"We don't want those types of people coming through here." That being said, both sides of this issue have valid concerns:

Beware of the false remedy of "Opportunity Zones"

A better name might be, "Gentrification On Steroids":

President Trump has portrayed America’s cities as wastelands, ravaged by crime and homelessness, infested by rats. But the Trump administration’s signature plan to lift them — a multibillion-dollar tax break that is supposed to help low-income areas — has fueled a wave of developments financed by and built for the wealthiest Americans.

Among the early beneficiaries of the tax incentive are billionaire financiers like Leon Cooperman and business magnates like Sidney Kohl — and Mr. Trump’s family members and advisers.

Personal anecdote time: Last year my town's merchant's association held a "business social," bringing in bankers and other Very Important Persons to discuss economic growth possibilities. One of the topics I was very keen to hear about was Opportunity Zones, because we have some areas that really need a lift. But the investment advisor (woman) who presented did not even mention economic improvement, or helping marginalized citizens. It was all about how to leverage the program to reap the most financial benefits. And another quick take: The more the merrier. The more expensive the project, the more tax savings reaped. Which means, the finished product (luxury apartments, high-end retail) would be inaccessible for people on the low end of the totem pole:

Raleigh's gentrification gains national spotlight

The whitening of former black neighborhoods:

In the places where white households are moving, reinvestment is possible mainly because of the disinvestment that came before it. Many of these neighborhoods were once segregated by law and redlined by banks. Cities neglected their infrastructure. The federal government built highways that isolated them and housing projects that were concentrated in them. Then banks came peddling predatory loans.

“A single-family detached house with a yard within a mile of downtown in any other part of the world is probably the most expensive place to live,” said Kofi Boone, a professor at North Carolina State University’s College of Design. Here, because of that history, it’s a bargain. And while that briefly remains true in South Park, the disinvestment and reinvestment are visible side by side on any given street.

This is one of those issues that is not cut-and-dried:

Gentrification on steroids: The Opportunity Zone program

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Making money and dodging taxes is the American way:

Developers have a new reason to build in already-booming Durham. A new federal incentive will encourage investors in certain parts of the city, including East Durham, west of Duke University and in Southwest Durham. But the “opportunity zones” could also lead to private investors tearing down existing houses to build big, new houses and getting tax breaks on their returns, Durham County Commissioner James Hill said Monday.

“This is why this has been called the Kushner bill,” he said, referring to Jared Kushner, President Donald Trump’s senior adviser and son-in-law.

Personal anecdote time, try not to yawn too much: Every year my town throws a "business social," wherein we invite dozens of movers and shakers to a hoity-toity gathering in the hopes of attracting investments. Last year, one of the speakers was a lady simply giddy with the prospect of Opportunity Zones. She's a banker, but in the investment division, and while I was waiting patiently to hear about how this might improve our town, she spent the entire time (much more than any other speaker) talking about dodging Capital Gains taxes. In short, the more the merrier. Meaning, the really high-dollar projects are preferred, and result in the best "return" on said investments. Not much room for affordable housing in that formula. Here's more from the people who really understand this:

History schmistory: John Grisham gets permission to remove Chapel Hill cottages

Apparently some houses don't deserve to be painted:

The cottages are located on four separate lots behind the home at 704 E. Franklin St. that Grisham and his wife Renee bought last year. The four lots were purchased earlier this year, county records show. The Grishams want to replace the cottages with landscaping where their property backs up to the Battle Park forest.

The commission approved Grisham’s plan Tuesday after two hours of debate but also voted to delay demolition by 365 days, the maximum time allowed under state law. Grisham, the commission and Preservation Chapel Hill are looking for someone to move the cottages to a new location.

At least one of the "morals" of this story: If a community really wants to preserve historical areas and structures, that community needs to take them off the market. And keep them off the market. That requires not only an investment up front, but the commitment to maintain them. I've seen what can happen if you don't (as I'm sure many of you have). In my town, about half of the "points of interest" in our historic walking tour are places that no longer exist, that have been replaced by newer (commercial mostly) structures. As far as Grisham's "right" to develop his own property, it should be noted this is not his primary residence:

Displacing the poor: Durham's market-driven revitalization

Gentrification, by any other name:

Kielhurn says these stories of dilapidated, unsafe, unsanitary rentals are fairly common. And the poor condition of some of the housing stock in poorer neighborhoods is what allows her, and other buyers, to grab up properties for such low prices. She’s bought many of her properties for under $50,000 and spends the bulk of her funds on renovations. When she rents them out again, she charges what she feels is a fair price for all the work she’s put in, and for the fact that she’ll be more attentive than previous landlords. So prices escalate to $800, $900, or $1,200 a month.

For muni and metro governments, who are already struggling with budget concerns, the idea of allowing the private sector a free hand in revitalization is an alluring one. Costs to the taxpayers are minimized, and the increase in property values ensures a nice tax bonus a few years down the road. But it's also irresponsible, because it exposes a portion of the citizenry to economic hardship that can (and does) result in homelessness and despair. Creating an affordable housing program (that works) is a complicated and costly venture, but it is a critical responsibility that must be pursued:

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