In reference to: “Affordable housing development plans approved in Yuba City,” Jan. 22 Appeal:
The proposed “Richland Village” 176-unit apartment complex is reported to cost an estimated $66M of taxpayer money. Simple math reveals an astounding cost of $375,000 per unit. The 40 unit New Haven project on Garden Hwy currently nearing completion cost $13.5M. That equates to a similar per unit cost of $337,500.
Calling these projects “affordable” is definitely a misnomer from the taxpayer’s perspective. The Housing Authority could save millions by purchasing low cost units around the area instead of building apartment complexes. Doing so would not add to the housing stock, but we should leave that to those who can produce it much more efficiently, private developers.
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