Win,
I disagree. The key to fixing any housing shortage is to build nice, midpriced homes that people desire and will want to move into. Those people vacate the existing older, smaller, cheaper properties which then become the affordable starter homes. Projects like this turn into run down, subsidized housing for low income people.

The Muni has no business getting into the housing & commercial market. The private real estate market knows what it viable and what isn't during a recession like this. All this will be is a bunch of brand new, empty storefronts. What new business is going to be created during a recession to fill a market already flooded with unused office space property?