Another perspective on the housing downturn

We’ve only just stumbled across Community Beat, a blog from the folks at the New Communities Program (itself part of the larger Local Initiatives Support Corporation). The site has been live since Jan 20 and offers commentary on a myriad of community development issues.

We quickly spotted this provocative entry from Jan 25: “Is the condo bust good for some ‘hoods?”

For Rogers Park and other hot ‘hoods — Logan Square, Humboldt Park, Pilsen, Albany Park — the gut renovations and Euro kitchens will extend the lives of hundreds of courtyard buildings, six-flats and corner buildings. With millions invested by developers, and shops and restaurants following the money into the neighborhoods, these areas have a good shot at long-term stability.

That’s mostly good, especially if the alternative is losing buildings to decay and demolition.

Of course, those displaced renters have to move somewhere, and the writer doesn’t discount that in the ensuing commentary. Still – how about that point? Are condo conversions saving residential stock from demolition or blight? At what cost?

(Visited 92 times, 1 visits today)