U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Missouri > Kansas City
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 12-01-2011, 03:49 PM
 
Location: Tower Grove East, St. Louis, MO
12,064 posts, read 27,228,249 times
Reputation: 3739

Advertisements

^My understanding is that they have to offer them because of the tax credits they used to renovate the buildings.
Reply With Quote Quick reply to this message

 
Old 12-01-2011, 04:02 PM
 
Location: Old Hyde Park, Kansas City,MO
1,145 posts, read 2,000,789 times
Reputation: 562
Quote:
Originally Posted by stevman22889 View Post
Does anyone think that the complexes that offer the income-based housing are kind of holding the downtown expansion back? I think it's great that they offered that to get people back downtown, but now that the demand is there to live in downtown, is this really something that is necessary? I say this based on my "big city" idea - in the places that have a desirable downtown area, you pay for it.
I think it does hold cities back because a good majority probably do not have disposable income to spend at restaurants, bars, shops, live theater, etc.
Reply With Quote Quick reply to this message
 
Old 12-01-2011, 07:37 PM
 
Location: Kansas City, MO
3,572 posts, read 6,203,526 times
Reputation: 2549
It's great that buildings such as the Professional Building have been renovated, and quite nicely I might add, but to require the whole building be restricted to working-class individuals making less than $28K to receive those tax credits makes little sense. I would rather not have the segregation and not turn away middle-class professionals because they make too much. It would make more sense and be better for downtown and the developer/owners if only a certain percentage of units had to be reserved for those making below $28K. Perhaps more buildings would have been renovated if the rules had been like this, allowing for more money to be made with higher rents.
Reply With Quote Quick reply to this message
 
Old 12-02-2011, 07:49 AM
 
Location: Tower Grove East, St. Louis, MO
12,064 posts, read 27,228,249 times
Reputation: 3739
^See now, I always thought it was a percentage. Darn, we need someone who knows what the hell they're talking about ...
Reply With Quote Quick reply to this message
 
Old 12-02-2011, 07:53 AM
 
Location: Tower Grove East, St. Louis, MO
12,064 posts, read 27,228,249 times
Reputation: 3739
OK looked into this a bit; it actually appears to be the developer who decides who much of the building is to be low-income, but it can't be less than either a) 40% of the total number of units affordable to persons at 60% of the median income or b) 20% affordable to persons at 50% of the median income.

Some good information: Missouri Housing Development Commission - Low Income Housing Tax Credit Program
Reply With Quote Quick reply to this message
 
Old 12-06-2011, 10:32 AM
 
1,830 posts, read 3,112,552 times
Reputation: 532
Courthouse Lofts opens downtown (in the Loop). 176 more units added downtown.

Former downtown federal courthouse formally reopens as apartment complex - KansasCity.com (http://www.kansascity.com/2011/12/05/3303502/former-downtown-federal-courthouse.html - broken link)
Reply With Quote Quick reply to this message
 
Old 12-16-2011, 07:58 AM
 
Location: Kansas City, MO
40 posts, read 58,798 times
Reputation: 18
Aren't the courthouse lofts another on of the income-restricted developments? Looking into downtown living, the main ones that I've seen that are income restricted would be the courthouse lofts and the cold storage lofts. Does anyone else know of any developments downtown that have this income restriction?

For me, those income-restricted places are a little frustrating. I make more than the income limit and have the desire to live in the area, but it really narrowed my options not having the opportunity to even attempt to live in those areas. I make a decent salary and there are a few places where I could afford to live downtown, but there are also a lot that I couldn't afford to live it without taking on a roommate.

Now, does anyone know how long the people who renovated these buildings needs to keep them income-restricted? As a growing city trying to revamp the urban core, I think it would only be beneficial to develop more housing in the downtown area or to open these to all young professionals. Not only would the extra income in downtown be nice, but putting people in that area who can spur the development of downtown (aka people who will spend money in the downtown area) would be a great way to spark development.
Reply With Quote Quick reply to this message
 
Old 12-16-2011, 08:40 AM
 
1,830 posts, read 3,112,552 times
Reputation: 532
You might check into leasing a condo unit from individual owner if you can't find anything.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Options
X
Data:
Loading data...
Based on 2000-2016 data
Loading data...

123
Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Missouri > Kansas City
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top