SIOUX CITY, Iowa (KCAU) – What was once an empty parking lot at the corner of 4th St. and Floyd Blvd. is quickly turning into what’s being called the ‘Urbane 1220’ rental community.
“There’ll be 56 rental units on the upper floors,” Jennifer Rose Bass with Century 21 ProLink said.
Bass says the owners hope to convert the first floor into a restaurant.
“They want something that would complement not only the surrounding businesses, but also be an amenity to the tenants living in the rental units,” Bass said.
Josh Jessen, general manager at the nearby 1008 Key Club, welcomes the new competition.
“Anytime that we have a new development downtown, as a local business around here in walking distance, it just generates revenue for us,” Jessen said.
Jessen says the project’s location will especially help when it comes to foot traffic.
“You know, the owners down the block, we all work together–we treat it as one big team around here,” Jessen said.
The benefits of this project will go much further than just the neighborhood.
“Anytime a building like this is built or improved, the tax assessment increases, and of course, that increases the tax base that’s paid into the city,” Bass said.
That means more money for projects Bass says will further beautify the downtown area.
“Every tax dollar we can raise helps the city and all the other organizations trying to do these projects downtown,” Bass said.
The new rental community is expected to open in November 2021. Prospective residents can visit the ‘Urbane 1220’ website for more information here.