Phoenix MSA Multifamily 1Q 2016 Quarterly Report
[{"id": "d2q6psn", "text": "The new development near Hance Park leaves me skeptical. The homeless use the park as a sort of base camp due to its proximity to the library (free air conditioning and computer access), and the bridge underneath Central Avenue helps keep them safe during inclement weather and away from other dangers such as traffic, theives, etc.\n\nSo I predict the development will either (1) fail because it's close to \"homeless headquarters\" and people won't rent/buy units, or (2)  push the homeless out of the neighborhood, albeit slowly, and into nearby areas of the city that aren't traditionally used to homeless people, such as Encanto or Coronado.", "replies": [{"id": "d2qbadf", "text": "Actually been a topic of conversation I've had with several investors/brokers.  If they're able to fully fund the $118M, Hance Park's full renovation plan, they'd have to really step up police patrols etc., much like in Central Park which is the model they're using for Hance.  Nonetheless, will still cause a lot of displacement like you suggested.", "replies": [], "depth": 2}], "depth": 1}]