The developer of a proposed 60-unit apartment complex in Dubuque no longer plans to pursue its construction.
The $12.9 million project would have developed five two-story buildings on a property at the end of Wolff Road, just south of Eleanor Roosevelt Middle School. The complex would have provided low- to moderate-income housing.
Dubuque City Council members this week voted unanimously to set a public hearing on April 18 for a proposed amendment to the Radford Road Urban Revitalization Area Designation, expanding it to include the location of the proposed development and to provide tax incentives for the project’s developer, Horizon Development Group Inc. The company also submitted an application requesting a rezoning of the property.
On Wednesday, however, Scott Kwiecinski, senior development manager for Horizon Development Group Inc., told the Telegraph Herald that the company is rescinding its rezoning application and no longer is pursuing the housing development. He declined to provide additional details on the decision.
“Due to unforeseen circumstances, we are electing to pursue other projects instead,” Kwiecinski said.
He previously said the project’s completion was contingent on receiving tax credits from Iowa Finance Authority to help fund the work. Documents provided by the City of Dubuque state that those tax credits could have secured about $8.9 million in funding for the project.
The project would have been located next to Horizon Development Group’s most recently completed housing development in Dubuque, a 44-unit apartment complex on Radford Road available exclusively to people ages 55 and older.
The proposed apartment complex would have provided rental units with a design similar to two-story town houses.
“There is a continued need for affordable housing in the city of Dubuque,” Kwiecinski said in an interview prior to announcing the project’s cancellation. “With this new project, we are welcoming all ages to this property.”
Along with the state tax credits, Horizon Development Group Inc. also was seeking other forms of financial assistance.
Expanding the Radford Road Urban Revitalization Area would have provided $567,000 in funding through a tax abatement loan. The developer also was seeking $500,000 in state funds from Iowa Finance Authority’s HOME program.
Prior to the announcement of the project’s cancellation, Alexis Steger, Dubuque’s director of housing and community development, said there is a need locally for low- to moderate-income housing, which the project would have helped address.