Writing ยท Capital / Finance / Investing

2025-05-08
๐—ง๐—ต๐—ฒ ๐—ฆ๐—ต๐—ผ๐—ฐ๐—ธ๐—ถ๐—ป๐—ด ๐—–๐—ผ๐˜€๐˜ ๐—›๐—ถ๐—ฑ๐—ฑ๐—ฒ๐—ป ๐—ถ๐—ป ๐—ฌ๐—ผ๐˜‚๐—ฟ ๐—ฆ๐˜๐—ฎ๐—ถ๐—ฟ๐˜„๐—ฒ๐—น๐—น๐˜€ Want to know why โ€œmissing middleโ€ apartments (2โ€“6 stories) rarely pencil out in the U.S.? Look at the staircase. + $300,000 for a second staircase in a typical 6-story building + $258,000 on a 4-story building 7% of floor space lost to hallways + shafts โ€” thatโ€™s square footage you canโ€™t lease Up to 10% higher total project cost when you layer in lost units + design constraints Land is fixed. Space is money. Every foot handed over to code-mandated egress is a foot you canโ€™t rent. Double stairs = double-loaded corridors. That means fewer windows, fewer flexible layouts, and fewer family-sized units. The deal dies at the margin. On tight urban lots, a 10% cost swing can flip a project from feasible to dead. Times are changingโ€ฆ. 15+ states are now pushing single-stair reforms (up to 6 stories). Developers are recalculating pro formas โ€” and the numbers are eye-opening. Life-safety tech (sprinklers, alarms, smoke control) makes single-stair design as safe as double-stair, according to advocates. If you want more affordable housing without subsidies, stop value-engineering the countertops. Start by trimming the stairs. 7% more rentable space + six-figure CapEx savings = real affordability gains. โ€“โ€“ Links + sources in the comments.
Capital / Finance / InvestingReal Estate (general)

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