The Davenport City Council will lend its support to a West Des Moines developer that is partnering with a city-appointed task force to create a Martin Luther King memorial and apartment complex. The $6 million complex and memorial would be on the city-owned lot at the northeast corner of the 5th and Brady streets intersection that Alderman Bill Boom, 3rd Ward described as where a mouth is missing a tooth. The citys Martin Luther King memorial task force spoke in favor of the project that includes $370,000 in construction assistance for the memorial and would provide interior space in the 29-unit apartment complexs first floor. Developer Newbury Living and the memorial task force came together for the first time about two and a half weeks ago. Were giving away a lot in terms of space, but were excited about this, task force chairman Ryan Sadler. It gives us peace of mind. Newbury Living president Frank Levy said a similar project in Des Moines attracts both upscale and working class residents. Levys company proposed a mixed-use apartment complex on the same site about a year ago, but the City Council wanted to see if there were other ideas for the location. A request for proposals was sent out and Newburys was rated the best, but faced a $2.5 million funding gap. the state CDBG application could bridge that gap. The city council will vote on a resolution in support of the project at its August 27 meeting. The resolution would be included in the grant application. The state is expected to announce in early January what projects it is funding. Along with the state funding, Newbury is seeking $400,000 in city CDBG grants and other funds, a 10-year property tax abatement, allow the proposed park to cross 5th Street, provide traffic calming on 5th Street and to relax any masonry requirements. The city would own and operate the Martin Luther King park and public space in the building.
Posted on: Tue, 19 Aug 2014 00:18:47 +0000
Trending Topics
Recently Viewed Topics
© 2015