The city of Iowa City is looking for a developer to turn a vacant downtown lot into a mixed-use building that could offer anything from entertainment and hotel rooms, to dining and office space. There is one proposal the city will not consider: luxury student housing.
The Iowa City Council at a work session Tuesday reviewed a draft request for proposals for the property at 21 S. Linn St., and expressed support for it.
The city bought the property last summer for $4.5 million after a developer’s plans for student housing at the site fell through. Prior to that, the property was a U.S. Bank drive through.
A Flourish map
The draft RFP asks for a mixed-use building with commercial on the first floor (retail, entertainment, dining, etc.). On upper floors the proposal asks for uses such as hotel, residential, entertainment, office space or other commercial uses.
“Our RFP is reflective of our values and what we want, and our love between location and about wanting to attract people to the city, into doing different things and things that engage more people. And we also need to make sure that this RFP is something that developers see as a benefit,” said council member Megan Alter.
A mix of market and affordable rate residential units in part of the building is “strongly encouraged.” The proposal also asks that developers consider plans that support the small business culture in downtown Iowa City and are not “alcohol-centric.”
“I think alcohol-centric is saying, don't make it bars, but you can still have an entertainment venue that serves alcohol or something like that,” said council member Laura Bergus.
If office space is proposed the city is asking that developers consider the possibility of the city owning or leasing upper floor office space. However, the proposal also states that city office space is not a “preference or requirement” of the project.
“We tried not to give the impression that this is a strong desire for the city to be in this exact location. We just want to open the door to that conversation,” City Manager Geoff Fruin said during the council work session.
The request for proposals explicitly states that “luxury housing focused on the student population” will not be considered.
The city is in the process of updating its Tax Increment Financing policy. TIF can help fund certain development projects in a district through the use of property taxes over a multiyear period.
Once the TIF policy is updated it will be added to the RFP, which can then be published, hopefully by September, city officials said.
Once proposals are submitted, a city staff review committee will recommend proposals to city council for review. The council will make the final decision on the proposals. The council may ask developers to present and answer questions at a meeting.
The city’s projected timeline includes a deadline for submissions in early November, with the possibility of a final proposal selection in early 2025.
The South Linn Street property was bought in October 2021 by Chicago-based CA Ventures, which developed RISE at Riverfront Crossings, a luxury student apartment building.
In August 2022, the city approved plans for a 13-story building with commercial space and student housing. However, in early 2023 CA Ventures indicated it was looking to sell the property.
The city bought the property last summer with the intention of pursuing development of a mixed-use building through the private sector.
From March through May this year, the city hosted public input sessions and put out surveys asking residents what they would like to see on the lot. The results of more than 6,000 responses from about 1,800 respondents included green space, affordable housing, market-like independent retail space and mixed-use development.
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The Iowa City Council at a work session Tuesday reviewed a draft request for proposals for the property at 21 S. Linn St., and expressed support for it.
The city bought the property last summer for $4.5 million after a developer’s plans for student housing at the site fell through. Prior to that, the property was a U.S. Bank drive through.
A Flourish mapThe draft RFP asks for a mixed-use building with commercial on the first floor (retail, entertainment, dining, etc.). On upper floors the proposal asks for uses such as hotel, residential, entertainment, office space or other commercial uses.
“Our RFP is reflective of our values and what we want, and our love between location and about wanting to attract people to the city, into doing different things and things that engage more people. And we also need to make sure that this RFP is something that developers see as a benefit,” said council member Megan Alter.
A mix of market and affordable rate residential units in part of the building is “strongly encouraged.” The proposal also asks that developers consider plans that support the small business culture in downtown Iowa City and are not “alcohol-centric.”
“I think alcohol-centric is saying, don't make it bars, but you can still have an entertainment venue that serves alcohol or something like that,” said council member Laura Bergus.
If office space is proposed the city is asking that developers consider the possibility of the city owning or leasing upper floor office space. However, the proposal also states that city office space is not a “preference or requirement” of the project.
“We tried not to give the impression that this is a strong desire for the city to be in this exact location. We just want to open the door to that conversation,” City Manager Geoff Fruin said during the council work session.
The request for proposals explicitly states that “luxury housing focused on the student population” will not be considered.
Final proposal selection could come early next year
The city is in the process of updating its Tax Increment Financing policy. TIF can help fund certain development projects in a district through the use of property taxes over a multiyear period.
Once the TIF policy is updated it will be added to the RFP, which can then be published, hopefully by September, city officials said.
Once proposals are submitted, a city staff review committee will recommend proposals to city council for review. The council will make the final decision on the proposals. The council may ask developers to present and answer questions at a meeting.
The city’s projected timeline includes a deadline for submissions in early November, with the possibility of a final proposal selection in early 2025.
Previous plans would have built student housing
The South Linn Street property was bought in October 2021 by Chicago-based CA Ventures, which developed RISE at Riverfront Crossings, a luxury student apartment building.
In August 2022, the city approved plans for a 13-story building with commercial space and student housing. However, in early 2023 CA Ventures indicated it was looking to sell the property.
The city bought the property last summer with the intention of pursuing development of a mixed-use building through the private sector.
From March through May this year, the city hosted public input sessions and put out surveys asking residents what they would like to see on the lot. The results of more than 6,000 responses from about 1,800 respondents included green space, affordable housing, market-like independent retail space and mixed-use development.
Iowa City seeks development proposals for S. Linn Street lot
Iowa City is looking for a developer to turn a vacant downtown lot into a mixed-use building that could offer anything from entertainment and hotel rooms, to dining and office space. There is one proposal the city will not consider: luxury student housing.
www.thegazette.com
