4 story mixed use new construction with 24 one bedroom apartments and first floor commercial.
The site was a tire store, old gas station site and dilapidated underutilized commercial building that was assembled and demolished by the 712 Initiative back in 2012. Requests for proposals were sent out and J Development was selected to develop the project into a 27,500 sq.ft. mixed use property. The project completed the urban wall of the 100 Block downtown district and added much needed residential density and an ‘after 5:00’ retail use.
Commercial: 6,400 sq.ft. including Caddy’s Kitchen & Cocktails
Residential: 24 1-bedroom market rate units
Sources of Financing: Iowa West Foundation, 712 Downtown Revitalization Fund, tax increment financing, State of Iowa Brownfield tax credits, Workforce Housing tax credits, traditional bank financing
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