116 3rd St SE
Cedar Rapids, Iowa 52401
Watts Group adding condos, townhomes in Cedar Rapids’ southwest quadrant
Units being built in growing part of town near Kirkwood Community College
CEDAR RAPIDS — The Coralville-based Watts Group is pursuing another Cedar Rapids project in the rapidly growing southwest quadrant, adding for-sale townhomes and condos to the market.
The Cedar Rapids City Council last week advanced a rezoning of the property at 7011 Harlan Eddy Dr. SW from Suburban Residential Medium Flex district to Suburban Medium Residential Flex district, allowing the townhomes to be on separate lots.
Seven condo units were built there last year. The Prairie Place project includes 54 units overall, the rest of which will be townhomes. Units are selling in the mid-$200,000s. They are all two-story units with variation in the colors and materials used so they don’t look the same, said Adam Hahn, Watts Group’s director of construction services.
Economic Development and Development Services Director Bill Micheel said the rezoning approved last week would make it easier for people to get a mortgage because it allows a property line to be created with each unit.
“They rezoned it so they could create independent lots so there was more to mortgage against,” Micheel said. “There was more collateral. If they’re all on independent lots, even if they’re tiny it makes it easier to get a bank to give you a mortgage.”
The 3.78-acre site is in proximity to Kirkwood Community College and Transamerica, and approximately 2 miles from Prairie High School. In addition to being near larger employers, Hahn said the housing is intended to provide an entry-level option for first-time homebuyers.
“This is in a good area of town near Kirkwood, Transamerica and a desirable school district,” Hahn said. “We’re happy to have an opportunity to build quality housing.”
The units — available with two- or three-bedroom options — feature a kitchen with a wraparound island and room for residents to relax or entertain guests. There also are half bathrooms on the main level located directly by the mudroom. Bedrooms as well as full bathrooms are on the second level.
Hahn said it should take five to seven years for crews to build all units.
This project has not received any city of Cedar Rapids city financial incentives.
Watts Group in recent years has completed several Cedar Rapids projects, such as the recently opened NewBo Lofts, luxury condominiums at Douglas on First near the Brucemore mansion, 12 new rental three-bedrooms in Czech Village called Krasny Square and other commercial projects. The company also is pursuing market-rate rental units at the Sinclair on Sixteenth development at 615 16th Ave. SE.
Comments: (319) 398-8494; marissa.payne@thegazette.com
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