A housing assessment shows Burlington needs affordable rental units – and would benefit from revitalizing underutilized properties.
So the city is applying for a $550,000 upper story housing conversion Community Development Block Grant from the Iowa Economic Development Authority.
That would help private developer Sky & Sea Properties renovate the upper floors of the property at 512-522 Jefferson Street into seven apartments.
Sara Hecox, housing program grant administrator for the Southeast Iowa Regional Planning Commission, said the project would provide safe and affordable two- and-one bedroom rental units for Burlington residents.
“The program will benefit low- to moderate-income households and at a minimum, 51% of the units will be rented to these individuals,” Hecox said.
U.S. Census Bureau data shows 51.4% of the city’s residents qualify as low- to moderate-income.
The grant application is due Nov. 1.
If the grant is awarded, the developer will pay for the remainder of construction costs.
City officials said rehabbing and occupying the upper floors of downtown buildings is critical to future of downtown.
The upper floors of the building are currently unoccupied, so no one would be displaced during the construction.
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