Reader Andrew Smith responds to Stevens Square, the land luxury lofts forgot, faces new development:
The Twin Cities currently have the lowest apartment vacancy rate in the country.
Luxury apartments are being built because people with money want to live in the city. If those apartments wern't being built, those people would still want to live in the city and rents would be going up faster for the rest of us.
In most cases, affordable housing is older housing. In 40 years, all those luxury buildings will just be regular apartments and regular people will be happy to live in them, so we shouldn't necessarily denigrate luxury buildings.
They help keep the rest of us from being displaced and in the future they will become more affordable. The city desperately needs more housing, of any type. The reuse of a nearly abandoned building and infill on a vacant lot are good projects, for Stevens Square or any other neighborhood.