ColdJay64 OP t1_jefqnom wrote on March 31, 2023 at 6:04 PM

Reply to comment by sexi_squidward in 47-story apartment building is planned above CVS store at 19th and Chestnut by ColdJay64

It's a brand new high-rise in Rittenhouse Square. Why would the apartments be below $2000? There are endless apartments far cheaper than that in the neighborhood and all over the city. The absolute nicest housing in the third most populated downtown in the country just isn't going to be super cheap - and there's no reason it should be.

hguess_printing t1_jefz4rx wrote on March 31, 2023 at 7:00 PM

It was noted in another comment that it would bring young people to the area to eat and shop, and I chuckled bc I don’t know 1000 “young” people that could afford a 2k rental right now, especially alone. It feels a little tone deaf to everybody who are struggling to find rentals they can afford

NotUnstoned t1_jegd9gn wrote on March 31, 2023 at 8:34 PM

Do you know 1000 young people, period? I know plenty of couples and a few individuals (all mid 20s- early 30s) who could afford that rent.

The people that can afford it will, and they will leave the lower priced options available for others who can’t.

sexi_squidward t1_jefseyf wrote on March 31, 2023 at 6:15 PM

Because there's a difference between cheap vs affordable housing. Every new complex, regardless of location, is branded as luxury housing.