The construction of a new $39 million apartment project near downtown Davenport is on schedule and should be ready for renters in January 2024.
That’s the latest update from an official with the company building the Federal Point apartment complex that is being built west of the R. Richard Bittner YMCA, located at 450 LeClaire St.
“Framing is basically done. Exterior doors and windows are going in. The roof is being installed. Installing the interior … plumbing piping, ductwork, wiring, fire protection pipes. They’ve started on drywall,” said Jackson Taylor, development director for TWG, a national real estate development company specializing in commercial, market rate, affordable and senior housing developments that is building the Federal Point complex.
TWG is headquartered in Indianapolis, Indiana.
Mr. Taylor told the QCBJ that the next phase of the apartment project will focus on interior work. “The MEP (mechanical, electrical and plumping) rough-ins are going in, and then it will be insulation in the walls and drywall over that,” he added.
The Federal Point project, which will be a four-story, 185-unit development, has not been hit hard by supply chain issues, the TWG director said.
“There was a lumber shortage, but we slowly worked through it ahead of time with a local lumber company to keep them in steady shape and keep the lumber flowing for us,” he added.
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. All the units will be reserved for people who earn at or below 60% of the area median income.
TWG officials said that Federal Point is being built to address the lack of affordable housing in the community.
“Recent local reports reveal a gap of 6,645 units needed to meet the community’s housing needs. Rental prices have also increased, making it harder for individuals to afford quality housing,” according to a TWG news release from last year.
Once completed, Federal Point will look much like TWG’s Lillis Lofts, an affordable housing community that opened two years ago in Urbandale, Iowa, according to TWG officials. Lillis Lofts has 43 units and includes a fitness center, playroom, community room and is a restricted-access building.
To learn more about TWG projects, visit www.twgdev.com.
