A new market-rate apartment complex project planned for downtown Bettendorf near the new I-74 Bridge is getting city support.
The Bettendorf City Council on Wednesday, June 10, approved a resolution of support for the housing project for a Workforce Housing Tax Credit Benefit application to be submitted to the Iowa Economic Development Authority.
The council unanimously approved the resolution during a brief special meeting, held to beat the deadline for the state’s application for Workforce Housing Tax Credits which is 4:30 p.m. Wednesday. A city resolution of support is needed as part of that application.
That tax credit program is an Iowa state incentive that provides tax benefits to developers for building or rehabilitating housing in Iowa communities. It aims to support projects that redevelop abandoned or dilapidated properties and target middle-income households.
The project getting that support is being planned for 109 13th St., Bettendorf. It will be a 145-unit multi-residential project being built by the Bader Development LLC, and a part of the West Bridge Economic Development Area.
That address is currently an empty lot off 13th Street near the new I-74 Bridge. It’s across the street from a former fitness center building, and near a former equipment storage building that was used when the new bridge was being constructed, said Jeff Reiter, Bettendorf assistant city administrator and economic development director.
Mr. Reiter told the council that Bader Development, based in Minneapolis, Minn., will likely do a two-phase housing project in the area. The first phase will center on a 145-unit apartment complex. The second phase will add another housing structure, bringing the total number of housing units to more than 250.
During Wednesday’s brief meeting, he showed the council two examples of Bader’s housing development work. Those projects are the Tyler Street Project in Minneapolis, and The Ellipse in St. Louis Park, Minn.
“They have a tremendously good track record,” Mr. Reiter.
The new housing complex buildings will probably not have commercial or retail business space. However, once complete and new residents move into the region, additional commercial and retail businesses will likely be attracted to the area because of the housing increase, said Mr. Reiter.
A timeline on the project has not been released. However, during the special council meeting, Mr. Reiter told the council he believes construction work on the project could start in the fall and be complete in early 2028.
“The City of Bettendorf has been approached by developer Kevin Koellner as the master developer of the West Bridge project, for support to redevelop the blighted and underutilized property at 109 13th Street. As master developer, Mr. Koeller is working with a multi-residential developer known as Bader Development LLC, who intends to redevelop this specific property as part of the greater West Bridge development in downtown Bettendorf,” according to information from the City of Bettendorf.
“We anticipate getting more details on the construction timeline and building design if the project gets approval from the state for the tax credits, which the developer should know if they receive the award in September,” Mr. Reiter told the Quad Cities Regional Business Journal.
