Generally speaking this lead to increase in housing and other amenities in the most demand area, which is exactly what we want. This decreases market pressure on other housing elsewhere in the city.
There's no reason not to satisfy the core's demand for infill development. This means increased tax revenue for the cities relative to infrastructure cost, thus more budgetary capacity to throw at problems..
Mandating affordable housing is an expensive proposition and developers will drag their feet unless subsidized. They don't build things out of the goodness of their heart after all.
While subsidies are a useful tool, I am not sure if it's useful to allocate to affordable housing as opposed to incentivizing developers to take on more projects and urban renewal projects.
I'm not arguing for subsidies or public housing. Just for a property tax that combines land value with property improvement using some reasonable formula that combines them. Increasing the share of property tax related to land value (it doesn't have to be zero percent) vs property improvement (it doesn't have to be zero percent either) can prevent shocks that avoid obliterating older housing stocks that traditionally serve as affordable housing, while still pushing for increasing density over time in popular cities (this will also act in the opposite way in cities like Buffalo that are less popular and land value tends to very cheap).
The whole point of increasing housing supply is to fix the affordability housing. All you're really doing is having rich people chase poorer quality housing in urban core area.
You're also discouraging adding housing stocks by discouraging new construction. This is a nonsensical approach advocating for a normal property tax.
There's no reason not to satisfy the core's demand for infill development. This means increased tax revenue for the cities relative to infrastructure cost, thus more budgetary capacity to throw at problems..
Mandating affordable housing is an expensive proposition and developers will drag their feet unless subsidized. They don't build things out of the goodness of their heart after all.
While subsidies are a useful tool, I am not sure if it's useful to allocate to affordable housing as opposed to incentivizing developers to take on more projects and urban renewal projects.