This is EXACTLY what many of us said would happen the minute Hanry mcClure and Doug Compton went begging to the city wanting tax payers to pay for THEIR "project". It was obvious that they (Compton and McClure) would do exactly what Compton is known for doing: Screwing over the locals, grabbing the tax money, build crappy buildings out of cheap crappy materials, try charging way to much for them, then sell it out to section-8 and wash their hands of it.
I think that the city council members that were sitting on the council and approved the TIF and permits (ESPECIALLY Swank and Duffy) should be forced to buy into the entire thing along with Compton and McClure, and IF it goes to section-8, then they should be forced to LIVE there.
They priced those apartments and retails spaces right out of the market. Let them try playing in the real world and put the rents on a realistic level.
All of those scum bags swore up and down that this would never happen.
Developers would sell buildings to Wichita company that would rent them out to low-income people
BY TIM HRENCHIR
Created September 21, 2010 at 9:57pm
After failing over a two-year period to find buyers for any of 24 townhomes they had built, developers of a project to revitalize central Topeka's College Hill business district propose to sell the buildings to a Wichita company that would take advantage of federal tax credits while renting them out to people who meet low-income guidelines.
"Developers of 24 townhomes in the College Hill business district have agreed to sell the buildings to a Wichita company that would rent them out to people who meet low-income guidelines. The developers failed during a two-year period to find buyers for the townhomes."
And to think that the city and these developers swore up and down and sideways that they wouldnt do this. This is exactly what we warned about. And we warned about this because this is exactly what those developers have done over and over again.