Tama Two Apartments Could be Ready to Rent a Year From Now
Tama Complex developer Doug Wells said construction on the new Tama Two building should start soon.
"Just as soon as our pricing comes back in. We're not holding back anything regarding construction," Wells told the Burlington City Council on April 12.
Wells said the funding is in place from the Iowa Economic Development Authority and other grants he's received.
Wells said retaining walls have been built and he's met with city and fire code inspectors. He said they're now working to get utility hookups coordinated.
Wells hopes tenants will be moving into the 24 apartments of the new building by this time next year.
The building will have one and two bedroom apartments upstairs, and a large space for rent on the main floor, which Wells says could be used for a grocery store, boutique shop, restaurant, or office space.
Wells also mentioned that his apartments will include a parking space at a nearby garage that he also owns.
Wells said more than half of the apartments will be eligible for the affordable housing program.
The original Tama Building at Third and Jefferson streets caught fire in August of 2018, burning for several days and destroying the multi-million dollar renovation that was almost complete at the time.
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