Forty years ago, investors built luxury garden apartments for under $10,000 per apartment. In today’s dollar, that is the equivalent of $58,000.
More recently, comparable units are under development in an upscale Harrisburg suburb costing under $100,000 per apartment.
Under the heading “Living up to need for work force housing”, the May 10 Sunday News reports the near completion of the Country Club apartments in East Lampeter Township. It is being developed by the nonprofit Community Basics Inc. with government tax benefits and special financing and is offering subsidized rentals.
The cost: $200,000 per apartment!
Hmm.
