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What’s going to be built in the lot immediately north of Big Grove? — Anonymous, via the Your Village feature on LV’s homepage
Checking the archives, it’s been five months since Your Village had a question with this answer — which is a little surprising — but that answer is, of course, apartments. Specifically, a pair of matched five-story, 56-unit apartment buildings, called “The Crossings.” The name is appropriate, since the complex is being built in the Riverfront Crossings District.
Documents filed with the city state that each building will have 35 one-bedroom units, 20 two-bedroom units and one three-bedroom unit. Both buildings will also have underground garages.
Because The Crossings is in the Riverfront Crossings District, the developer must make 10 percent of the units qualify as affordable housing for 10 years, or pay a fee of up to $80,000 per unit. That money would go to the city’s affordable housing fund.
Housing is affordable for households with incomes at or below 80% of the HUD established Area Median Income if residents pay no more than 30% of their gross monthly income for either; rent and utilities or mortgage, principal, interest, insurance and homeowner fees.
The lot north of Big Grove Taproom on South Gilbert Street was the site of Alexander Lumber, and before that it was Nagle Lumber. Nagle Lumber, which was founded in Iowa City in 1922, had been in business for 94 years when it purchased by the Illinois-based Alexander Lumber in 2016.
After selling the Gilbert Street property, Alexander Lumber relocated to Independence Road in southeast Iowa City.