Grant will lead to more downtown living
More apartments for downtown Mt. Pleasant?
They could be coming soon as a Mt. Pleasant developer has received a $455,000 community development block grant (CDBG) from the Iowa Economic Development Authority.
Lowe Holdings LLC of Mt. Pleasant received the award this week to add seven downtown apartments.
Lowe Holdings will build seven upper-story apartments at 111 N. Main St., or above Main Street Cinemas. Scott and Amy Lowe own the cinemas.
“We have clearly seen the demand for downtown housing,” noted Lisa Oetken, director of Main Street Mt. Pleasant. “People love the convenience and charm of living in the Main Street district and in turn, their presence is a great benefit to Main Street businesses.”
Previous CDBG awards have helped create 33 apartments in downtown Mt. Pleasant, according to Main Street Mt. Pleasant officials.
Nineteen communities across Iowa received a total of $52 million in CDBG funds in the latest awarding. Developers in Ft. Madison were awarded more than $4.2 million to create 69 new housing units at two locations.
The CDBG funds were allocated to assist communities in recovering housing lost during the 2008 floods. The Southeast Iowa Regional Planning Commission coordinated the local applications.