The new Federal Point apartment complex in Davenport is in its final construction phases. It is expected to be complete and ready for renters by the end of February.
That’s the word from officials with the company building the new $39 million apartment project at 450 LeClaire St., near the R. Richard Bittner YMCA.
“Finishes are coming along nicely with drywall being about completed. Flooring, doors, trim and final paint are progressing smoothly,” said Jackson Taylor, development director with TWG, a national real estate development company specializing in commercial, market rate, affordable and senior housing developments that is building the Federal Point complex.
Mr. Taylor also told the QCBJ on Wednesday the building “crew has also begun installing plumbing and lighting fixtures.”
“We’re excited to bring this community to the Davenport area and looking forward towards a successful project completion,” he added.
When completed, Federal Point will be a four-story, 185-unit development. All units – including studio, one-bedroom, and two-bedroom apartments – will be reserved for individuals who earn at or below 60% of the area median income (AMI), according to the TWG website.
The Federal Point apartment complex will have 23 studio apartments, 95 one-bedrooms, and 67 two-bedroom units. Rent will be between $700 and $900 a month.
Amenities will include a fitness room, outdoor patio and bike storage.
TWG officials said that Federal Point is being built to address the lack of affordable housing in the community.
The Federal Point project was announced in 2021, and construction work started in early 2022.
TWG is headquartered in Indianapolis, Indiana.
