Daniel Warwick

Daniel Warwick

@danielmwarwick.bsky.social

Affordable housing finance, trains, DC, planes

477 followers327 following724 posts

Flying to a conference this morning and it's low key embarrassing to be upgraded to first class depending on who else you know is boarding the flight... At least we got the Mariners plane!

Excited for allowing more housing! Better zoning is a critical roadblock to new housing but is insufficient in itself to build new housing. Developers and investors also need to believe they will make money.

Janeese4DC@janeese4dc.bsky.social

We can and we must build more homes for all of us.

Good article on the proliferation of Joint Powers Authorities for Welfare Exemption housing in California but the framing about investors making $ is misleading The problem is that public benefits aren't calibrated to the tax expenditure, not that $ is made www.sfchronicle.com/projects/202...

sfchronicle.comReal estate investors are profiting off a California tax breakThe welfare exemption has become a strategy for landlords to save money on taxes without necessarily giving tenants a discount on rent, a Chronicle investigation found.
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Texas and California are 100% exemptions for 100% at 80% AMI. Washington State's is 75% at 60% AMI and Montgomery County, MD is 50% at 60% AMI The way to get more 80% AMI housing is by letting developers build more and let the market work. 60% AMI and below typically needs subsidy

There are certaily places like Frisco, CO where market rents are >80% AMI (and even >120% AMI) and it's contextual to determine whether the public good is worth the tax expenditure.

Good article on the proliferation of Joint Powers Authorities for Welfare Exemption housing in California but the framing about investors making $ is misleading The problem is that public benefits aren't calibrated to the tax expenditure, not that $ is made www.sfchronicle.com/projects/202...

sfchronicle.comReal estate investors are profiting off a California tax breakThe welfare exemption has become a strategy for landlords to save money on taxes without necessarily giving tenants a discount on rent, a Chronicle investigation found.

Tax abatements are crucial for affordable housing and affordable housing is a public good that we should support. The question is if the public benefits are worth the cost At 80% AMI when in place and prevailing rents are well below 80% AMI probably not

That said, individually underwriting and negotiating every tax abatement doesn't work when preservation opportunities are on market for a few weeks at a time and real estate buyers need predictability to make big bets And often there is a real anti-displacement strategy tax abatements can help

Daniel Warwick reposted

Replying to @jamellebouie.net

anyway i think DC statehood is a non negotiable. only way to give DC residents the tools to protect themselves.

Daniel Warwick reposted

Seattle’s infill boom from 2000 to 2020 “eliminated about 1 million tons of potential greenhouse gas emissions basically for free… this category of climate action has been better than a free lunch. It’s been a lunch the region got paid to eat.”

ggwash.orgInfill housing delayed is climate action deniedUrbanites have smaller carbon footprints than our suburban neighbors. That isn’t just something to feel smug about – it’s a call to action to embrace more infill housing in cities.

People say DC has no culture but I'm standing on the Metro platform at Dulles and there's a guy wearing a Doug Jones for Alabama shirt who just asked "where were you when Obama was elected?" I'm home

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Metro Parkway has a cool connection to the top of a park and ride and a great transit center under it that used to go into a big mall parking lot. Unfortunately the mall is gone and it takes 3x the time to get downtown than driving!

You can tell a lot about a city based on the advertisements in its baseball stadium. The Mariners have Microsoft, Amazon, Starbucks, etc The Diamondbacks have Chick-fil-A, Chase, and Baja Blast 🙃 Export economy of consumption?