Tuesday, May 26, 2009

Enough with the &*^%ing luxury apartments already!!

Since Memorial Day was a beautiful sunny day, the wife and I walked all over town. We hoofed it from our place near the Tully Center down to Black Bear for quesadillas and then up to Scalzi Park in search of Italian ices (no luck). Along the way, I spotted not one but TWO new "luxury" developments downtown.

The first was 93 Atlantic Street, which I assume is comprised of the apartments above the wig store, Punta Cana and Fiesta.



They're being renovated and sold as luxury condos starting in the 600,000s!!!!! (Or the $600s, according the flier.) It's a nice idea, and I've always thought it would be cool to live above a store NYC-style, but not at that price for that part of Atlantic Street. As I've said before, that stretch is crippled by its neighbor across the street, Landmark Square. Sure, this new condo complex will have a rooftop deck, but with views of what? The kids loitering in Veterans Park? Wow, sign me up.

The other one was 100 Prospect Street, a former office building that's being converted into luxury apartments.


I love that area - we used to live at 65 Prospect - but enough is enough! Every apartment building or townhouse being built in Stamford today is "luxury." What happened to building a nice, average apartment building? Why is it so taboo to build something that (gasp) the middle class can afford?? I understand that land and materials are expensive, so developers want to maximize the return on their investment, but holy cow, when is it going to end?? Is there still even a market for these overpriced apartments?

Average people are losing their jobs and having their homes foreclosed upon, but every new building is renting or selling for these ridiculously high prices. I'm no commie, but I can understand how things like this can drive the proletariat to revolution. It really does seem outrageous.

Stamford really needs some kind of incentive program to encourage developers and landlords to create housing for that middle bracket of the population that doesn't qualify for assistance, yet can't afford a $600K 1-bedroom condo this side of downtown Bridgeport. If they don't do something, the exodus of talented college graduates, young families and long-time Stamforders will continue. At this rate, I worry that we won't be able to afford to live here much longer, and we love it here!

14 comments:

Always Home and Uncool said...

Amen, JR!

Anonymous said...

If you go to the website, the condo in the flier is listed at $959,000!!!

JR said...

It's very nice, but $959K to live above the wig shop??? One thing I didn't point out at first is that there is ZERO parking down there!!! I guess that's why they repeatedly point out that it's walking distance to everything.

Good luck selling that place. Anybody in this town with that kind of money is going to want a place to park their Range Rover.

Stamford, the workin' city? said...

How can Anyone except the very, very rich or the very, very poor live in Stamford. The Working poor live in basement or cellar apartments (I should know) and there is nothing in affordable range. You either bought when it was cheep or you made your money in one of those weird deals that got the economy in so much trouble.

Whitemist said...

Only 959 K?, must be a discounted Million!
I will only say that I am very fortunate that I bought a house in 1992, otherwise my city salary does not get me up to the cost of staying in this town.

Gofer1 said...

Agreed but hey if you are looking for Authentic Italian Ice come check out Gofer Ice Cream on High Ridge Road :>

Anonymous said...

barcelona is now open!

Stefania said...

Just read your post (and blog). Couldn't agree more on development... I guess no one can come up with a smart way to make money while building affordable - and yet great - housing. That's an idea... developers...authorities... anyone?

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