February 16, 2016

Quick Takes (v6): The Rich Really Are Different

Quick Takes
We've long been told that rich people are just like the rest of us. You know, they put their pants on one leg at a time, and they have great kids and wonderful pets and they go off to work, and they donate to charity and all that.

And of course, they cheat on their spouses and their taxes, and they have addiction problems and they lose their jobs and stuff, just like regular Joes and Josies.

They tend to have bigger houses, sometimes even nicer houses. And also just like regular folks, some of them think about downsizing when they retire, moving into something smaller, getting rid of clutter and whatnot.

Today, however, we learn that they really are different from us regular folks, if they're willing to partake in this new project that's splattered on the front page of our newspaper.

In the east suburbs, which is where we have the highest concentration of wealth in our neck of the woods, there's a plan to build a new luxury apartment retirement community, with a full gym and a movie theater and other amenities which the developer tells us will make it like being on a 5-star cruise ship, without the waves and American Idol wanna-be singers, I'm guessing. Here's the pitch:
Our all-inclusive resort-style senior living communities are the ideal senior living options for adults 55 and over who seek an elegant, comfortable and safe place to call home. Designed to complement your lifestyle, our luxurious accommodations, unmatched amenities, flexible dining options and leisure activities set the tone for the retirement of your dreams.
Importantly, the 128 apartments will range in size from 566 to 1206 square feet, or around the size of the average walk-in closet in the homes of people who could be anticipated as potential residents of the new community.

The developer asked for (but admitted they don't need) a $3.4 million tax package on the project, or about 10% of the project's $33.85 million cost.  Two folks from the company told OCIDA, the Onondaga County Industrial Development Agency that they'd be creating 35 jobs, and that they'd like a break because it
would make the project more economically feasible and would lower the monthly rent for tenants from $3,800 to $3,500, making them more affordable for the growing population of residents reaching retirement age.
You are reading that right - $3,500 per month for a three-bedroom, 1200 square foot apartment, plus luxury cruise amenities.

I wonder if the residents will have to dress for dinner at the captain's table?