Groundbreaking set for Village Lofts development

Construction is expected to begin later this summer on Village Lofts, a 25-unit condominium project in the Kingston Village neighborhood.

Ahmann Companies is planning a July 1 groundbreaking for the $5 million, four-story building at 200 Third Ave. SW that will feature first-floor parking and three floors of market rate condominiums.

The studio, one-, two- and three-bedroom units will offer views of downtown Cedar Rapids, the Cedar River and the McGrath Amphitheatre.

'Our goal is to provide downtown living with enclosed parking to draw new buyers moving to the area as well as current residents to the downtown area,” said Chad Pelley of Ahmann Companies in a news release.

Pelley said buyers will be able to choose from a number of finish options to customize their condominium. He said more than one unit can be combined to create a larger space.

'There is no other project in the city where homeowners can choose their own finishes in a condo-style home in the downtown area, and we wanted to address that,” said Joe Ahmann of Ahmann Design in the release. 'By giving people the option to put their own stamp on their home, more people are showing an interest in this concept.”

Pelley said completion of Village Lofts is projected for the spring/summer of 2016.

The brick building design of Village Lofts is intended to fit with a few century-old brick storefronts in the two-block area that have been saved from demolition and are being renovated privately.

The most notable historic building, the Louis Sullivan-designed bank building at 101 Third Ave. SW that housed a branch of Wells Fargo Bank Iowa, was remodeled by developer Fred Timko for Popoli Ristorante & Sullivan's Bar.

Ahmann Companies also is renovating the former Great Furniture Mart Building on First Street SE in downtown Cedar Rapids. The company built the Geonetric building in New Bohemia.