Harrison Lofts – New Residential and Commercial

Doing-it-in-Davenport_Black

1414 Harrison Street

Total Investment: $10.2 million
Total Public Investment: $8 million (combination of Enterprise Zone incentives, City land contribution, state sales tax refund and state investment tax credits)
Private Funds Leveraged: $2.2 million
Status: Ongoing
Projected jobs created: TBD (based on final commercial tenants)

The Harrison Lofts building in the 1400 block of Harrison Street is nearing completion.

A little over four years ago, the site where this new construction is going up in Davenport’s historic Hilltop Campus Village area contained the burned out husk of a fire-ravaged apartment building. Later this summer, the new Harrison Lofts will be a welcome anchor to a neighborhood on the upswing.

Developer Sherman Associates – in partnership with the City of Davenport and State of Iowa – is constructing this mixed-use residential and commercial building at the corner of Harrison and 14th Streets. The building will feature 60 units of studio, 1, 2, and 3 bedroom apartments, with 25 percent market rate and 75 percent low-to-moderate income individuals targeted towards students and residents working in entry-level and service-oriented occupations.

Jackie Nickolaus, vice president of development for Sherman Associates, said the building will be framed and capped with roof work nearly complete by the end of April. Construction should be complete by the end of July, with residents moving in Aug. 1. “I think this project is going to be great for the neighborhood,” she added. The Harrison Lofts are expected to be a linchpin project in the ongoing effort to revitalize the Hilltop Campus Village, which recently became a Main Street Iowa designated district. Scott Tunnicliff, director of the Hilltop Campus Village, called the Harrison Loft project a “giant step forward” for increasing business and attracting residents to that section of the Harrison Street corridor.

The artists rendering of the building shows two stories of residential and ground floor commercial.

Ruhl & Ruhl Commercial Company is actively marketing the two ground floor commercial spaces – one 1,071 square feet and one 2,049 square feet. With two local colleges, several schools and Genesis East Hospital located near the site – which is also conveniently close to downtown – we expect demand to be high and two quality retail uses nailed down soon. Interested retailers can contact Rick Weinstein or Meg Halligan at Ruhl & Ruhl Commercial at rweinstein@ruhlcommercial.com or mhalligan@ruhlcommercial.com.

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