Tuesday, October 31, 2006
I don't know if it is true, but I've heard that if you can see an apartment complex from your home, your property value decreases. However, this issue in Terry seems to have more involved than just real estate.
TERRY — Plans for a new low-income apartment complex here are moving forward, despite protests from residents.
In a 3-2 vote earlier this month, aldermen decided to allow the Pinnacle Housing Group of Miami to develop property off I-55 - next to Terry Park, a new subdivision of higher-end starter homes priced at about $130,000.
Fearing the complex will attract a vagrant population and reduce property values, some residents have begun canvassing neighborhoods for support against the development.
I thought a lot had changed with new low-income housing developments, such as random inspections, strict security requirements, etc. Also, the Florida company who will construct the complex had this to say:
Pinnacle Group develops property through a federal housing tax credit program that provides financial assistance for the construction of subsidized housing.
"This is housing that has restricted rents," said Lisa Stephens, Pinnacle Group's Mississippi representative.
Terry was chosen because of its growth prospects, Stephens said. It will target people working just north of Terry who can't afford to live in Jackson or Byram.
"Terry's the next stopping point," she said.
Mississippi is new territory for the Pinnacle Group, which limited its developments to Florida, but Stephens said she's seen this kind of negative reaction before.
"We build our communities like market-rate developments," she said, meaning the apartments look like other apartment complexes that are not subsidized....Pinnacle Group's proposed 120-unit complex will have a fully furnished club house with exercise equipment, computer lab, swimming pool and playground, Stephens added. She said rent on the apartments had not been set and could not be estimated.
Since there is one low-income apartment already in the town, are the residents who oppose this overreacting, or are their fears justified? Talk to me.
Madison complex. I don't think there's a cure for it, outside of sterilization of the infected people.
There goes the neighborhood.
On this one I am going to wait and see. i remain hopeful that at some point in time even the low income will begin to see that if this is the only place I have to live i am going to make it the best for me and my kids. "Hope springs eternal"