A new 192-unit affordable housing development is in the works adjacent to the site of the new westside library in Cedar Rapids.
The Cedar Rapids City Council voted unanimously to approve the first reading of a rezoning request for the 12.25-acre site at 4010 20th Ave. SW, just west of the site where a new westside library branch and public park is now under construction.
Mike Byron, vice president of Pedcor Investments of Carmel, Indiana, the developers of the westside project, said that the planned workforce affordable housing development incorporates 64 one-bedroom, 96 two-bedroom and 32 three-bedroom units.
Mr. Byron said rental rates at the development will range from $966 for one-bedroom units to $1,349 for three-bedroom units. Planned amenities include a playground, business computer center and dog park.
He also said the development will have on-site management, including a management agent, assistant management agent, leasing agent, assistant leasing agent and head of maintenance, all working out of a clubhouse at the development.
“We know that it’s a wonderfully situated property with all the amenities close by, the big box retailers at Westdale Town Center, pharmacies within a half mile, groceries within a half mile, a bus stop across the street,” Mr. Byron said. “It hits all the parameters that we look for in a deal. And we are very excited to become a member of the community.”
The development is contingent on approval of the rezoning request and workforce housing tax credits from the state of Iowa, Mr. Byron added.
The sale of the site by the Cedar Rapids Public Library Foundation will help fund the Foundation’s gift to the city to help pay for the library’s construction, Cedar Rapids zoning administrator Seth Gunnerson said.
The request to rezone the property, from agricultural to suburban residential medium flex, is compliant with the city’s comprehensive plan for the area, and there are no recommended zoning conditions for the proposal, Mr. Gunnerson said.
He also said the development will be largely similar to the Union on Wiley complex in southwest Cedar Rapids.
The second and possible third reading of the rezoning request is set for the council’s Nov. 5 meeting.
