People are reserving apartments in downtown Bettendorf a couple of years before they'll be ready. And the next phase of the project is about to begin. In August, a Des Moines developer broke ground on phase one of the Bridges Loft Apartments, located on 15th Street along the riverfront.
Frank Levy, President of Newbury Living, says the first of two buildings will include 76 studio and one-to-two bedroom units. And half of them have already been reserved.
The frame of the first building has been completed, with work on the second building to begin any day. The second phase will add 56 apartments.
Newbury Living bought the Twin Bridges Motel property and demolished the old buildings. The $23 million project will include balconies and laundry for each unit, a workout center, outdoor pool, and rooftop lounge.
Rent will run from $750 dollars per month for a studio, to nearly $1,750 for a two-bedroom apartment. Bettendorf's financial incentives include a 20-year tax increment financing deal, along with a $750,000 economic development grant.
