I was wondering if the community was nearing the "over saturated" point. I say that because this is the first year I recall in a long time that I'm getting ads for rentals at high rises over there. Also, many of the complexes around the area have signs with "specials" again and those are not not even over there.
The good thing that might happen is maybe the rents will go down as these corporations have to compete more for students.
Wishful thinking maybe but I'm not in the market for student housing. What the city of WL needs is affordable housing for families - it's quickly losing its "neighborhood feeling" where families like to live.
It's sad to see how families are being squeezed out of living in the city.
In the building I live in downtown, this is the first time I've seen so many vacancies. Another building nearby is offering significant rent discounts for a lease signing. It's becoming quite clear that the market is oversaturated.
6 stories is better than 14, the issue is and always has been controlling the rent rate of these units, which developers and landlords keep artificially high only because of the nearness to Purdue.
I don’t think not housing students is an option, though we are already at a point where projects are sold to the community on the basis of only some parts of the complex being for students specifically (Hub Chauncey). The city has no legal ability to establish a rent control ordinance because the statehouse cares that little about poor families and individuals, but it does have the power to extract written agreements with developers to not charge over a certain threshold. Families don’t want to live in apartments, but they cannot live in apartments if they are overpriced. And they are overpriced because students are being used as an excuse to keep rates high. If the answer is to limit the amount of beds for Purdue students, that is a solution for tackling the high rent ceiling problem. Let them build complexes on their land for students to live in, and keep urban downtown housing for people who actually live in our community year round.
I was wondering if the community was nearing the "over saturated" point. I say that because this is the first year I recall in a long time that I'm getting ads for rentals at high rises over there. Also, many of the complexes around the area have signs with "specials" again and those are not not even over there.
The good thing that might happen is maybe the rents will go down as these corporations have to compete more for students.
Wishful thinking maybe but I'm not in the market for student housing. What the city of WL needs is affordable housing for families - it's quickly losing its "neighborhood feeling" where families like to live.
It's sad to see how families are being squeezed out of living in the city.
In the building I live in downtown, this is the first time I've seen so many vacancies. Another building nearby is offering significant rent discounts for a lease signing. It's becoming quite clear that the market is oversaturated.
6 stories is better than 14, the issue is and always has been controlling the rent rate of these units, which developers and landlords keep artificially high only because of the nearness to Purdue.
I don’t think not housing students is an option, though we are already at a point where projects are sold to the community on the basis of only some parts of the complex being for students specifically (Hub Chauncey). The city has no legal ability to establish a rent control ordinance because the statehouse cares that little about poor families and individuals, but it does have the power to extract written agreements with developers to not charge over a certain threshold. Families don’t want to live in apartments, but they cannot live in apartments if they are overpriced. And they are overpriced because students are being used as an excuse to keep rates high. If the answer is to limit the amount of beds for Purdue students, that is a solution for tackling the high rent ceiling problem. Let them build complexes on their land for students to live in, and keep urban downtown housing for people who actually live in our community year round.