The Eaton Hotel, once considered to be the finest hotel in the
Great Plains, had been vacant and deteriorating for many years before
the City of Wichita launched an aggressive campaign to save it.
Thanks to the efforts of a large number of
individuals
and organizations, today the Eaton Hotel has been completely restored
to its former grandeur.
The key to the project's success was a multi-disciplinary partnership
approach. The City put together a great team comprised of citizens,
an experienced developer, and architects and contractors to design
and carry out the rebirth of the Eaton Hotel. The result is a mixed-use,
mixed-income property that contains six structures, 115 housing
units (26 affordable units) and more than 112,000 square feet of
residential and commercial space. The total project cost of more
than $15 million dollars included a wide range of funding including
tax increment financing, industrial revenue bonds, low-income housing
tax credits, developer equity and resources from the Federal Home
Loan Bank and HUD (FHA Multifamily Mortgage Insurance and the CDBG
and HOME programs).
The key to the project's success was a multi-disciplinary partnership
approach. The City put together a great team comprised of citizens,
an experienced developer, and architects and contractors to design
and carry out the rebirth of the Eaton Hotel. The result is a mixed-use,
mixed-income property that contains six structures, 115 housing
units (26 affordable units) and more than 112,000 square feet of
residential and commercial space. The total project cost of more
than $15 million dollars included a wide range of funding including
tax increment financing, industrial revenue bonds, low-income housing
tax credits, developer equity and resources from the Federal Home
Loan Bank and HUD (FHA Multifamily Mortgage Insurance and the CDBG
and HOME programs).
What once was a deteriorating eyesore in the heart of "Old Town"
Wichita is now a shining example of what can be done to preserve,
restore and enhance inner-city landmarks. The Kansas City HUD Office
is proud to have been part of the success of this project.
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