From Steve Willson:
Any more low income housing like this and taxpayers will go broke!
Low Income Housing at Luxury Prices
A recent article in the Northwest Herald (“Workforce housing apartments debut”) lauds the opening of a “50-unit workforce housing” project in McHenry called Taylor Place.
The project cost $25 million, according to the article, and was the recipient of millions of dollars in taxpayer money for construction, including help from U.S. Rep. Bill Foster and McHenry County.
That’s $500,000 per apartment!
Recent home sales in McHenry range from $223,000 to $485,000 and average around $340,000.
If local, state and federal officials continue to build more “low cost” housing like Taylor Place, the taxpayers will go broke!
