The neighborhood would benefit from more programs to encourage new, infill housing. The City has a program to waive building permit and water tap/equity fees on new infill housing in the Neighborhood Revitalization Areas. These waivers, if 100%, would save homebuilders approximately $2,370. In addition to fee waivers, the City offers rebates of local property tax increase (for example, an increase of $40,000 in appraised value would result in additional tax obligation of $400/year that for a period of 5 years would be rebated; in effect that rebate amounts to a $2,000 incentive). Two additional programs could also be useful in the neighborhood:
-
A program to reduce the cost of new units by providing low-cost land for development. (The City or a not-for-profit could donate the land in exchange for an agreement that the land be used for particular types of housing or for residents with low- to moderate-incomes.)
-
A lease program with the option to purchase. (A portion of the monthly rent would be set aside for the down payment. After a few years the down payment would be large enough for the renter to purchase the home, and a good track record of payments would be established.)
While the current programs may help revitalize a neighborhood of existing homes, such as the Midtown Neighborhood, programs to encourage new, infill housing are needed in the Center City Neighborhood.
The Center City Neighborhood may be able to use the Midtown Neighborhood as a model or springboard for redevelopment efforts. Unlike Center City, Midtown is overwhelmingly residential. The Midtown Neighborhood has been able to maintain considerably higher occupancy rates than the Center City Neighborhood (89% compared to 64%), and the Midtown Neighborhood has experienced significant rehabilitation. Based on 1990 Census data, renters occupied 56% of these units. A majority of the neighborhood's housing units were single-family detached units. The median value of the owner-occupied units was $39,800 in Midtown, while the median housing value in Wichita was $56,300. The types of residents that are moving into this neighborhood are some of the same types that would most likely consider a move into the Center City Neighborhood.
The diversity of the Midtown Neighborhood is reflected in the fact that houses range in value from $10,000 bungalows in need of rehabilitation to $750,000 mansions overlooking the Arkansas River. Generally two-bedroom bungalows range from $30,000 to $70,000 depending on the block and condition. Two-story homes range from $25,000 to $120,000 for the same reasons.