Situated atop a rolling hill just blocks from Iowa River Landing and Xtream Arena, the first of three Elevate condominium buildings are set to open in Coralville in spring 2022.
The $50 million development at 4 Russell Slade expects to be a top destination for Coralville residents seeking both an unbeatable location and upscale amenities.
“When we first saw the land we knew it had amazing possibilities,” said Mike Bails, one of the key partners in the development, in a press release. “It’s a premier location that will transform the Coralville skyline and the Corridor living experience. Everywhere you turn there are breathtaking views. It’s going to be extremely attractive to people looking for a high-rise lifestyle in an established neighborhood.”
Elevate is pet-friendly, with private balconies and patios, and will offer one bedroom and two bedroom living arrangements. According to their website, they want the condo to be built with “high-quality, contemporary finishes for a sophisticated, timeless look.”
“It’s for professionals who commute, remote workers who want a walkable and bikeable life, or those who enjoy being close to the golf course and having direct access to natural surroundings in their backyard,” said Jake Evans, CFO at Grand Rail, in a press release.
Elevate, Bails said, will offer many conveniences, including a grab-and-go fresh market with coffee and beverages, fire pits on the dock, co-working spaces, a golf simulator, a private dog park, event and gathering spaces, drive under parking and more. These amenities will be built into the first building, he said.
The first building is currently under construction and it will feature 50 condos that may be purchased or leased. Within four years, Elevate expects to construct two more buildings for a total of 180 condos.
Elevate was developed by Grand Rail, a North Liberty-based developer and construction firm; the Bails Team at Urban Acres Real Estate; and Brotherton Investments.
The one bedroom spaces range from 790 to 955 square feet and feature a primary bedroom with an ensuite bath. Lease prices are between $1,115 to $1,375 per month and purchase prices range from $229,900 to $319,900. The two bedroom spaces range from 1,200 to 1,640 square feet and feature a primary bedroom with an ensuite bath and a second bedroom with a full bath. Lease prices are between $1,595 to $1,950 per month and purchase prices range from $229,900 to $774,900.