An old motel in downtown Bettendorf may soon be torn down and replaced by new apartments. This week, the city council gave its preliminary approval to a development agreement with Frank Levy and Twin Bridges Associates.
Jeff Reiter, director of economic development for the city, says Levy is proposing to spend 22 million dollars to build an apartment complex with 135 units. There would be studios, and one and two bedroom units.
"All of them have heated balconies which is very cool, with rooftop fire pits available, so the residents can actually go out on the rooftop. The river views will be pretty spectacular with some unique elements."
The city would help by providing a 750,000 dollar forgivable loan, and rebate a portion of the property taxes from its downtown tif district over the next 20 years.
Reiter says the agreement also requires the developer to demolish the motel and adjacent restaurant, and begin construction within four months. Final approval of the deal could come at the next Bettendorf city council meeting (12/20).
The Twin Bridges Motor Inn is located at the corner of 15th Street and State Street.
