UPBEAT OR SOUR NOTE?!?! WILL NEW KANSAS CITY TAXPAYER SUBSIDIZED HOUSING SAVE 18TH & VINE DISTRICT?!?!
Kansas City local government continues an endless quest to "build density" by playing the real estate development market. So far this strategy has failed at nearly every turn and caused this town to bleed red ink worth tens of millions every year.
The latest eco-devo real estate effort will be celebrated today in the 18th and Vine District.
Background and Money Quote: Since 1997, the city has spent more than $70 million redeveloping the area by preserving the history while attracting people to move back to the area.
The latest scheme:
Kansas City leaders hope new apartments will help revitalize Jazz District
And now the question . . .
WILL THIS KANSAS CITY REAL ESTATE SCHEME FINALLY PRODUCE A PROFIT IN THE 18TH AND VINE DISTRICT GIVEN SO MANY CITY HALL FAILURES AROUND THE SAME LOCATION?!?!
More . . .
FUN FACT: TKC HAS INTERVIEWED A COUPLE OF AFRICAN-AMERICAN SMALL BIZ OWNERS WHO SWEAR THEY'LL NEVER DO BUSINESS WITH 18TH AND VINE AGAIN BECAUSE OF COMPLACENT STAFF AND MISMANAGEMENT!!!
So, we can hope that these apartments turn things around but we're talking about a City Hall spending spree that has lasted more than 16 years without really changing the neighborhood beyond a couple of city blocks.
DEVELOPING . . .