Two new apartments add 111 homes to downtown Davenport
Developers may receive credits of up to 20% of the cost related to construction/rehabilitation. The sale of the credits to investors can be used as equity in the project.
As part of the “local match” requirement for the developer’s application for workforce housing tax credits, the city of Davenport is providing a 10-year tax abatement.
The architect on the building is Shive-Hattery, Cedar Rapids, and the contractor is Build to Suit, Bettendorf.
Urbane 210 is the name of the $8 million building being constructed south of the RiverCenter by Merge Urban Development Group, Cedar Falls, Iowa. The name refers to the building’s street address of 210 E. 2nd St.
It is expected to be finished in the summer of 2021.
Rising in former city-owned green space, just west of Tag Communications, it will have 6,000-square-feet of commercial space geared toward micro-shops and entrepreneurial small-businesses of 600- to 1,000-square-feet, along with a larger space for a restaurant or anchor tenant.
The apartments will be a mix of studios and one- and two-bedroom units.
“We are way excited about this,” said Kyle Carter, executive director of the Downtown Davenport Partnership, and arm of the Quad-Cities Chamber of Commerce.