"Non-profit" just encourages padding expenses along the way.
City of LA had access to government-owned land, fairly large pool of labor and probably some bulk discounts on building materials. Yet after you add consultants, construction unions and other well-connected entities jumping onto the gravy train, average unit ended up above $600k, way above an average "for-profit" luxury condo in LA
Having worked with the St. Louis housing authority in the past, I bid work for urban development authorities at a 10x multiplier, and I am elated to tell my investors that we tried, and our bids were rejected.
You cannot possibly imagine the pain and frustration of building for inner-city urban development government organizations. They exist to perpetuate the problems that perpetuate their existence. The worse things get, the more funding they get.
City of LA had access to government-owned land, fairly large pool of labor and probably some bulk discounts on building materials. Yet after you add consultants, construction unions and other well-connected entities jumping onto the gravy train, average unit ended up above $600k, way above an average "for-profit" luxury condo in LA
https://www.bloomberg.com/news/articles/2022-02-23/la-paying...