Wednesday, January 22, 2014

Where are the apartment complexes WITHOUT income restrictions?


If you are a single person earning $60k or more per year where can you rent in Ward 8?

Last week two single professionals reached out and expressed a sincere interest in moving to (or back) to Ward 8. While that was a good thing (they would have made great Ward 8 residents) it came with a challenge. Neither person could find a Ward 8 apartment complex that met their needs (see below) that didn't have an income cap or some other income restriction. There were a few (and I mean a few) properties they were interested in but without dependents their salaries (modest by regional standards) priced them out. I've addressed this issue before in a prior post about Ward 8's need for some market rate (or mixed income) rental properties.

So if you can, please put your thinking caps on and give some recommendations for some suitable rental properties -- without income caps -- that fit these requirements:

  • In walking distance of public transportation (either metro, bus or Bikeshare)
  • Parking 
  • Close proximity to a grocery store/gym/cleaners
  • Relatively new or recently renovated
  • Safe (with the understanding that "safe" is subjective)
  • Accepts dogs

Of course, considering the current condo market in Ward 8 it is possible to sublet but for the purpose of this exercise please limit your suggestions to apartment complexes. Curious to know if Ward 8's  inventory for "market rate" rentals is adequate (if existent at all).

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9 comments:

UIP said...

Take a look at Marbury Plaza! www.marburyplaza.com

Anonymous said...

We dont have that type of housing in ward 8--if they are interested in living here they should purchase a home in ward 8 and not be a renter.

-that guy

The Advoc8te said...

@UIP

Marbury Plaza is in Ward 7 and has a long and checkered past of serious building and management issues. The situation was so bad the residents had to form a tenant association to battle the problems and a lawsuit was filed against the management at the time. So while things are improving there (I hope) even if it was in Ward 8 ( which is it not) I am not sure that would be an option. Also, I don't think they accept dogs (but I could be wrong).

The Advoc8te said...

@Anonymous

I can't tell if your comment was serious or flip so I am going to assume it was the former. :)

Ward 8 desperately needs a mix of middle and higher income residents in order to attract businesses that will provide much needed services, amneties and JOBS. Right now Ward 8 is not competitive with other communities who have a higher income level and thus those things are staying away. To think we are in a position that we can exclude a very lucrative part of the market (single professionals with disposable income) is short sighted to say the least. Yes we need more homeowners (and I would say that the majority of new residents are homeowners) but we can not afford to ignore this portion of the rental market. If we do we are not going to see improvements anytime soon.

Per the Urban Land Institute Report I posted on here a few day ago you have to have a DIVERSE income base to have a revitalized and healthy community.

Stan said...

I think the dogs are the hardest thing on your list. There are several smaller rental buildings near/along Penn Ave, Alabama, and Good Hope would meet your other criteria but almost NO renovated or new building is going to accept dogs. Only the big projects and/or some single family houses accept dogs. I agree with "that guy" above - why not just buy if you make $75-100k per yr and want to live in W8?

Anonymous said...

yo,

the government can't force the private industry to make nice apartments in Ward 8. Can't work. Private industry will build there when they think they can make some money with a manageable amount of risk. That's the way its always worked. There are literally a hundred places West of the River that have more developmental potential (read opportunity to make money) than Ward 8. The underlying issues facing a huge chunk of the residents have to be addressed before you can have some thing that looks like whats happening in Far Southeast. Either that or a DOT building, a Navy Yard, a baseball stadium, and a willing D.C. Housing Authority to wipe out hundreds of housing units for low income DC residents. You need political pressure to improve services and safety in the area. Until that happens, its more of the same.

The Advoc8te said...

Anonymous:
"the government can't force the private industry to make nice apartments in Ward 8. Can't work. Private industry will build there when they think they can make some money with a manageable amount of risk. That's the way its always worked. There are literally a hundred places West of the River that have more developmental potential (read opportunity to make money) than Ward 8. "

I agree with that comment 1000%. You hit the nail on the head. I think we have to look more to the private industry and see what benchmarks they are looking for when deciding to invest in locations and work toward those benchmarks. I don't think the government can carrot/stick it's way into a solution -- at least not 100%. Development is driven by the market -- household number and income.

Anonymous said...

Woodmont Crossing?

The Advoc8te said...

Woodmont Crossing is in Ward 7.

Also they have income restrictions:
Income Restrictions
Income restrictions apply to some or all residents. Contact the community for more information.

#PersonsMaxAnnual Income
1 $45,120.00
2 $51,540.00
3 $57,960.00
4 $64,380.00
5 $69,540.00
6 $74,700.00
To qualify, your income must be equal to or below those in the chart, based on the number of persons living in the apartment. 2013 published incomes.