This rendering shows the four-story, mixed-use business building that is being planned at 227 LeClaire St., Davenport. The $19 million project – called Riverwatch Place – took a big step forward late Wednesday, Jan. 15, when the Davenport City Council approved a revised tax incentive plan resolution for the new development being planned for 227 LeClaire St. CREDIT STREAMLINE ARCHITECTS
A new hotel and mixed-used building project planned for downtown Davenport is moving forward. The project may now be on the “fast track” to completion and be done in two years, according to a spokesman for the project’s owner. The $19 million project – called Riverwatch Place – took a big step forward late Wednesday, […]
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A new hotel and mixed-used building project planned for downtown Davenport is moving forward. The project may now be on the “fast track” to completion and be done in two years, according to a spokesman for the project’s owner.The $19 million project – called Riverwatch Place – took a big step forward late Wednesday, Jan. 15, when the Davenport City Council approved a revised tax incentive plan resolution for the new development being planned for 227 LeClaire St. The site is where the former Howard Johnson’s Hotel, and originally The Clayton House, used to stand. That site is currently a vacant lot near the foot of the Arsenal Bridge.One of the two proposed buildings in the project will be a TownePlace Suites by Marriott Hotel. The other will be a four-story building that will include office space, a restaurant and retail shops.The Davenport City Council on Wednesday approved a revised tax incentive plan resolution for the new development being planned for 227 LeClaire St. CREDIT DAVE THOMPSONThe council voted 6-3 (with one council member, Jazmin Newton, abstaining from the vote) in favor of the updated resolution. The action means the project can move forward with anticipated construction to begin this spring or summer and be complete by the end of 2026, according to the agreement.“After receiving the council's approval, we will continue with civil design work and the building plans. We're hoping we can fast track the process and start construction this summer with the goal of an early 2027 completion,” real estate professional Pete Stopulos, who represents project owner, 227 LeClaire LLC, told the Quad Cities Regional Business Journal this morning, Jan. 16.Mr. Stopulos added: “We're obviously pleased that the council was able to find common ground with the amendments, come together and pass this resolution. City staff worked hard to put together a strong agreement that we certainly thought everyone should have been able to get behind.”“I’m happy we could get this done tonight. … There is now an economic agreement in place,” said Kyle Gripp, at-large council member who supported the agreement, after Wednesday’s brief council meeting.In fact, the council spent less than 15 minutes with little public discussion on the Riverwatch Place agreement before voting on the issue. Last month, the council failed to approve the tax incentive plan for the Riverwatch Place project. This time, several revisions were made to the agreement before getting council approval.Many of the changes address the fact the development property is near the Mississippi River and could be hit with future flooding. The agreement states the city will not provide flood protection for the property.“The developer further acknowledges that construction in this area is subject to inherent flood risks,” according to the updated agreement. Some of the “flood protection disclaimer” portions of the updated agreement include:
The city has no obligation, responsibility or liability to provide flood defense measures for the property. This includes sandbags, levees and temporary barriers.
The developer and all subsequent property owners assume all risks associated with developing and maintaining the property in a floodplain and floodway. This includes property damage, increased insurance costs and possible restrictions on future development.
The developer waives any claims against the city for damages, losses or costs resulting from flooding and the city’s refusal to provide flood protection for the property.
The city’s flood mitigation efforts are designed to protect public property and infrastructure. The developer of the project and all subsequent property owners agree that such efforts do not extend to private property.
Under the agreement’s tax incentives, the city will rebate 75% of the hotel/motel tax for the company’s first 10 years, then 50% for the five years after that. However, construction on the project must begin by Dec. 31, or the city may terminate the agreement.Another part of the revised agreement states the city and the developer agree that a portion of the hotel-motel tax revenue generated under this agreement will be allocated exclusively for park maintenance in the city.“The funds allocated for park maintenance under this agreement shall supplement, not replace, the city’s current or future budget allocations for park maintenance,” according to the approved resolution.“The updated resolution puts the onus on us to deliver a great project for Davenport that both cleans up and activates this long blighted site. We're excited to be able to add this development to what is already a thriving downtown,” Mr. Stopulos said.The hotel/mixed-used building project will be a welcome addition to the downtown area, said Kyle Carter, executive director of the Downtown Davenport Partnership, an affiliate of the Quad Cities Chamber of Commerce, who attended Wednesday's council meeting.He told the QCBJ that he has a “high level of confidence” that the Riverwatch Place will be done in about two years. “I’m happy to see the council work together tonight and get some good things done. … This is just the beginning for this project,” he added.Here’s a look at some of the development’s planned features as presented during a Design Review Board meeting last September:
TownPlace Suites by Marriott Hotel
89 rooms and support facilities. (The newly approved agreement with the council, however, states the hotel will have 82 rooms.)
Indoor pool and fitness center.
Rooftop amenity space for guests. (During the September meeting, Mr. Stopulos told the board that rooftop space is being created to help give guests a unique experience and great views. Also, creating that space will reduce the number of available hotel rooms.)
Mixed-use building
Four floors.
Retail and restaurant space will be on the first floor.
In September, Mr. Stopulos told the board that the buildings would be raised to protect the first floors against floodwaters.
Office space on second and third floors.
Event center on the fourth floor.
Ample parking for guests and clients in the two buildings.
