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Miguel Salazar's avatar

Thank you Kevin for this article! It is a great encouragement for small developers like me to build places that are “lovable”. I’ve been following the New Urbanist movement for years and recently I have found Andrew Gould’s New World Byzantine (which combines my loves of traditional liturgical art and New Urbanism seamlessly). I would love to read / hear a conversation between you two. (He is also a Charleston man)

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David Muccigrosso's avatar

I'm curious how you think this interacts with Chuck Marohn's take on the fact that these developments are just a financial product.

I think that explains why they're made so shoddily and ugly. Although zoning/etc restrictions force these projects to be of a certain size in order to be practical, the financial market also needs a steady supply of them. For them, it'd be no good for us to build out our next decade's worth of housing supply, all at high-enough quality that it'll be still standing with minimal maintenance in 50 years -- at a 20% markup (to borrow your example), that's a STEAL over something built only to last 20-30 years.

But the financial markets need a reliable source of these things. So they're not going to finance solving the housing crisis all at once; they're only going to finance solving it piece by piece, in buildings that will reliably fail in 20 years so that ANOTHER can be built.

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