I don’t see the connection to mixed-use, honestly, and I’m a little confused about how a multi-level apartment building could be built by more than one entity, without creating another entity to manage construction.
Yeah, I though of that, but the association (an entity) might still break OP’s conditions, especially during construction when there isn’t really separate interior units to speak of.
Forming an entity is the prescribed approach when you need to manage a project with a lot of stakeholders. The best next option would be some unholy web of contracts that allow a construction worker to move between units and build one on top of the other, and it’s entirely possible there’s some legal rule that says that can still be regarded as an entity because the courts don’t want to deal with it if some legal action starts.
Condos could be pre-contracted just like any other home. And I believe condo associations are resident owned.
Ultimately though, I think the important bit would be that the finished inventory is only owned by actual residents. Which a condo association would accomplish.
Ultimately though, I think the important bit would be that the finished inventory is only owned by actual residents.
See, that’s more practical. I still worry it would be impossible for many people to buy into their own home as opposed to renting, but it makes basic sense as a policy idea.
I don’t see the connection to mixed-use, honestly, and I’m a little confused about how a multi-level apartment building could be built by more than one entity, without creating another entity to manage construction.
I’m not an expert, but aren’t you describing condos? A person owns the interior, and the outside is managed through an owners association.
Yeah, I though of that, but the association (an entity) might still break OP’s conditions, especially during construction when there isn’t really separate interior units to speak of.
Forming an entity is the prescribed approach when you need to manage a project with a lot of stakeholders. The best next option would be some unholy web of contracts that allow a construction worker to move between units and build one on top of the other, and it’s entirely possible there’s some legal rule that says that can still be regarded as an entity because the courts don’t want to deal with it if some legal action starts.
Condos could be pre-contracted just like any other home. And I believe condo associations are resident owned.
Ultimately though, I think the important bit would be that the finished inventory is only owned by actual residents. Which a condo association would accomplish.
See, that’s more practical. I still worry it would be impossible for many people to buy into their own home as opposed to renting, but it makes basic sense as a policy idea.