Investors got big tax breaks to turn luxury apartments into affordable housing. In many cases, rents are higher than before
https://www.siliconvalley.com/2024/12/01/investors-tax-breaks-luxury-apartments-affordable-housing/
Serenity at Larkspur is, in many ways, your standard luxury apartment complex. Perched on the golden hills of Marin County, it offers views of the San Francisco Bay and Mount Tamalpais. Residents have access to a long list of amenities, including two pools, a tennis court and a wine tasting room. At the high-end Marin Country Mart across the street, they’ll find designer brands such as Goop and Design Within Reach.
Rent isn’t cheap. A one-bedroom goes for $3,004 — high but in line with the market.