{"id":54787,"date":"2015-08-21T05:00:26","date_gmt":"2015-08-21T10:00:26","guid":{"rendered":"http:\/\/www.shotinthedark.info\/wp\/?p=54787"},"modified":"2015-08-13T13:30:21","modified_gmt":"2015-08-13T18:30:21","slug":"54787","status":"publish","type":"post","link":"http:\/\/www.shotinthedark.info\/wp\/?p=54787","title":{"rendered":"Build It And They Will Rent"},"content":{"rendered":"<p>Joe Doakes from Como Park emails about a <a href=\"http:\/\/www.startribune.com\/394-unit-apartment-building-going-in-near-mall-of-america-among-biggest-in-twin-cities\/321661221\/\">new apartment building being constructed by\u00a0the Mall of America<\/a>:<\/p>\n<blockquote><p>\u201cChmielewski said rents haven\u2019t been set, but because the project is being developed with tax-increment financing, some units will be income-restricted.\u201d<\/p>\n<p>&nbsp;<\/p>\n<p>I think the usual percentage is 20% low-income for the first 5 years, then they can go market-rate at which time the developer will convert the whole thing to a condo and sell the units.<\/p>\n<p>&nbsp;<\/p>\n<p>So another 100 low-income apartment units next door to the Mall of America.\u00a0 That ought to help the trendy, high-end retail shops in the Mall.\u00a0 And no danger of gangbanging riff-raff scaring away other customers.\u00a0 No wonder the City jumped at the chance to fund it.<\/p>\n<p>&nbsp;<\/p>\n<p>Joe Doakes<\/p><\/blockquote>\n<p>And the Met Council said &#8220;It Is Good&#8221;.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Joe Doakes from Como Park emails about a new apartment building being constructed by\u00a0the Mall of America: \u201cChmielewski said rents haven\u2019t been set, but because the project is being developed with tax-increment financing, some units will be income-restricted.\u201d &nbsp; I think the usual percentage is 20% low-income for the first 5 years, then they can [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-54787","post","type-post","status-publish","format-standard","hentry","category-minnesota-politics"],"_links":{"self":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/54787","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=54787"}],"version-history":[{"count":2,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/54787\/revisions"}],"predecessor-version":[{"id":54800,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/54787\/revisions\/54800"}],"wp:attachment":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=54787"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=54787"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=54787"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}