District catalyst and award winning historic renovation of residential and commercial space.
The two-story brick structure was built in 1917 to house the Hughes-Irons Motor Company, an auto sales and service center. The building was in disrepair at the time of renovations. The second floor served as an auto repair garage for 54 years and is now 17 apartments. The main floor was refurbished into commercial space which houses the Council Bluffs Chamber of Commerce, Jefferson’s Lounge and Lincoln’s Pub among many other smaller commercial tenants.
The 712 Initiative purchased the building in 2006 and was ultimately the developer of the property utilizing many sources of financing including but not limited to: Iowa West Foundation, Southwest Iowa Foundation, Federal and State Historic Tax Credits, New Market Tax Credits, tax increment financing, and traditional private financing. Today the building is part of the 100 West Broadway Historic District in downtown Council Bluffs. Original architectural elements like wood and ceramic floors, garage doors, leaded glass transom panels, and the historic building façade were cleaned and restored.
Commercial – 13,000 sq.ft. on street level including Lincoln’s Pub, Jefferson’s Lounge, Council Bluffs Chamber of Commerce, and Advance Southwest Iowa
Residential – 17 apartments: 11 1-bedroom and 6 2-bedroom units
Parking – 7,540 sq.ft. of interior, street level space was converted into 19 parking spaces for the residential users of the building
Developer: The 712 Initiative
Architect: Alley Poyner Macchietto
Sources of Financing: Iowa West Foundation, Downtown Revitalization Fund, Southwest Iowa Foundation, New Markets Tax Credits, Rehabilitation Tax Credits, tax increment financing, forgivable storefront loan, deferred developer fee, traditional bank financing
