Archive for Restoration St. Louis

New Project: Downtown SCC Campus and Kahl Renovation

Posted in Projects with tags , , , , , on August 13, 2014 by Tory Brecht

Doing-it-in-Davenport_Black

Total Investment: $50 Million (estimated)
Total Public Investment: TBD
Private Funds Leveraged: TBD
Jobs Created: 200-plus (estimated, construction & full-time)

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The vacant First Midwest Bank building will be converted into one of the core campus buildings for Scott CC downtown

The pace of development in downtown Davenport is accelerating even faster with the announcement of a major public-private partnership between Eastern Iowa Community Colleges and developer Restoration St. Louis that will renovate three major buildings over the next two years.

Under the terms of the proposed agreement, around $50 million will be invested to create a brand new downtown urban campus for Scott Community College and renovation of the Kahl Building (the current home of Scott classrooms) into market rate housing, first floor retail, and the long-awaited restoration of the Capitol Theater.

Two vacant and deteriorating buildings – the former First Midwest Bank and former First Federal Bank/Social Security Administration building on 3rd Street – will be renovated and make up the core of the new campus building. The 80,000 square-foot campus will feature classrooms, computer labs, a science lab, student commons, outdoor plaza, meeting place and administrative offices. The college’s current classrooms and offices in both the Kahl Building and the Ground Transportation Center will be consolidated on the new campus.

The Kahl will then be taken over by Restoration St. Louis and renovated into an 80-90 unit apartment building featuring first-floor retail and the new and improved Capitol Theatre. The theatre will be a big screen, first-run movie house that likely will serve food and alcoholic beverages, according to Restoration St. Louis.

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Project costs are calculated at approximately $50 million. Financing will come from a variety of sources, including Historic Preservation Tax Credits, traditional lending, bond issuance proceeds and a capital campaign by Eastern Iowa Community College. EICC Chancellor Don Doucette vowed that no property taxes or tuition increases will be part of the funding. Sam Estep, senior VP of development for Restoration, said the company does plan to submit an economic development agreement to the City of Davenport at some point. This likely will involve economic incentives, but what exactly those will entail is still being worked out.

The timeline is to finalize feasibility studies and cost estimates by late fall of this year and begin construction in 2015, Estep said. College officials would like to move into classrooms in 2016.

“This is a really exciting opportunity to meet not only the growing needs of a local educational resource, but to do so while creating a major economic development project,” said Estep. “We remain very excited about the future of downtown Davenport.”

Renwick Building – UPDATE

Posted in Uncategorized with tags , , , , on December 20, 2013 by Tory Brecht

Doing It in Davenport logo

324 Brady Street

Total Investment: $4.2 million
Federal Historic Tax Credits: $834,000
State Historic Tax Credits: $1 million
City bridge loan: $1.8 million
Private Funds Leveraged: $2 million
Status: Residential complete, commercial nearly complete

The exterior of the renovated Renwick Building shines at night

Christmas decorations adorn the inside and outside of nearly every single one of the 18 new apartment units in the just-completed Renwick Building renovation and new exterior lighting brightens this once dark edifice on Main Street. Work is continuing at a breakneck pace to get the first floor tenant space finished. The new live music venue – the operator of which is still officially under wraps although it may be the worst-kept secret in the Quad-Cities – is scheduled to open by the end of January.

Developers Amrit and Amy Gill of Restoration St. Louis said they are pleased to see work nearing an end on Renwick, as they gear up for their massive $60 million mixed-use City Square project on 2nd Street which gets underway in early 2014. The couple gave City staff a tour through the nearly completed building earlier this week, pointing out some of its unique features and architectural touches.

One of the centerpieces is the shared-use “penthouse” that offers some of the best views of downtown Davenport around. The penthouse features a gas fireplace, comfortable seating areas, and outdoor deck and workout room.

The Renwick penthouse offers stunning views of downtown Davenport

The Renwick penthouse offers stunning views of downtown Davenport

The first-floor live music venue will be state-of-the-art, with one of the most modern recording studios in the entire country and other high-tech touches that should deliver amazing concert experiences in an intimate setting. The gigantic front windows will give passer-by a great view into the building, which should be a hotbed of activity downtown.

Work continues on the live music venue in the Renwick Building

Work continues on the live music venue in the Renwick Building

All 18 of the apartment units are rented, further evidence of the growing demand for downtown living. Each feature high ceilings, top end appliances and individual balconies.

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The Gills say the building should be fully complete and the first-floor tenant should be open for business by the end of January.

UPDATE: Renwick Building –

Posted in Projects with tags , , , , on May 28, 2013 by Tory Brecht

Work continues on the Renwick building renovation

Total Investment: $4.2 million
Federal Historic Tax Credits: $834,000
State Historic Tax Credits: $1 million
City bridge loan: $1.8 million
Private Funds Leveraged: $2 million

324 Brady Street
Status: Ongoing
Projected jobs created: TBD

Thanks to the generosity of architect Jim Morrison (yes, that’s his real name) – we got a sneak peak INSIDE the ongoing Renwick Building renovation on Brady Street. Work on both the first floor tenant space and the apartment spaces is reaching fever pitch. (We still can’t reveal the first-floor tenant, per their request, but we think they’re going to be a great addition to downtown.)

Restoration St. Louis is lauded for their ability to bring original architectural elements back to life, and this project is no different. We thought the saving of the 100-plus-year-old original staircases throughout the main section of the building was particularly cool.

Original staircase in the Renwick Building

The 18 market-rate apartments – all of which are already spoken for, according to Morrison – feature stunning views of downtown Davenport through giant windows.

Large arched windows provide views of the Federal Courthouse in this Renwick apartment.

 

Even the kitchen windows at the Renwick offer nice downtown views.

Small balconies added to the backside of the building will allow tenants to enjoy some outside air while maintaining an urban feel.

Balconies on the back of Renwick also offer downtown views.

Last, but certainly not least in our minds, Renwick is the first public-private partnership location to feature one of our new Doing It in Davenport physical signs out front. Keep an eye out as you drive around town for more of these signs popping up, as new growth and new projects abound!

Doing It in Davenport sign is up at the Renwick renovation construction site.

 

Renwick Building – New Apartments/First Floor Commercial

Posted in Projects with tags , , , on March 11, 2013 by Tory Brecht

Doing-it-in-Davenport_Black

Total Investment: $4.2 million
Federal Historic Tax Credits: $834,000
State Historic Tax Credits: $1 million
City bridge loan: $1.8 million
Private Funds Leveraged: $2 million

324 Brady Street
Status: Ongoing
Projected jobs created: TBD

The Renwick Building on Brady Street dates to 1896 and is being renovated.

Restoration St. Louis continues their ambitous work that is reshaping and reinvigorating downtown Davenport. The Renwick Building project is a mixed-use development, combinging 18 market-rate apartments (with amazing large windows and cool urban views) and a first-floor commercial use that is currently confidential but is going to be a big shot in the arm for the central city.

Restoration St. Louis co-owner Amy Gill says the residential units should be ready to rent in April, with the first floor commercial space hopefully opening in June. Demand has been very high for the apartments, she added.

Originally constructed in 1896, the Renwick Building began its life as home to a succession of furniture showrooms and warehouses. Its design – created by local architect William Renwick – is in the style of late 19th Century Chicago Commercial with Romanesque touches.

We are excited to see yet another building resurrected into residential use, in what is now the fastest-growing census track in all of the metro Quad-Cities: downtown Davenport.