Groundbreaking of Old Town Coralville development planned

BY DI STAFF | SEPTEMBER 20, 2013 5:00 AM

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Following several months of initial design, planning, and community input, the city of Coralville is nearing the groundbreaking step for another large-scale development.

Several city officials and one local developer will be on hand in the coming weeks to commemorate the start of construction for the Old Town Coralville area, a Wednesday city press release said.

At a Sept. 30 kickoff, the City Council, Coralville Mayor Jim Fausett, and Watts Development Group, Inc. will visit the flood-prone land located along Fifth Street.

When finished, the area south of Fifth Street between Biscuit Creek and Second Avenue will bring together a total of 154 housing units, 10,000 square feet of commercial space, and public areas.
The Coralville City Council first approved the development in June.

Housing options will include 42 two- and three- bedroom townhomes and an upscale apartment building with 72 units.

The condominium apartments and townhomes are set to be available for purchase in late spring of 2014.

The 20-acre site, severely damaged during the 2008 flood, once included a number homes, apartments, and city buildings.

In recent months, a new berm was constructed to ensure the safety of the area and to protect from any future water issues.

Developers have long maintained that the gentrification of this area will have significant positive economic impact on the city.

The multi-phase project’s final completions are anticipated for a yet-to-be-announced 2018 date.

— by Quentin Misiag

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