Chauncey tower rezoning advances in Iowa City

IOWA CITY - The Iowa City Council has approved the first of three votes to rezone a portion of property to allow for the construction of the divisive Chauncey tower.

The council on Tuesday voted 4-2, with council members Jim Throgmorton and Kingsley Botchway opposed and Michelle Payne recused, to approve the rezoning of 27,200 square feet of mostly city-owned land at the northeast corner of College and Gilbert streets for the 15-story, 175-foot tall Chauncey.

The vote followed about one hour of public hearing, with the majority of the council expressing support for the tower.

'I believe that this is in the best interest of the city,” said council member Susan Mims, citing the building's tax revenue and included amenities. 'For me there's a lot of issues there that make this the right thing to do.”

Kingsley expressed praise to developer Moen Group for the building's design and noted the Chauncey as a great addition to Iowa City, but raised concern over its proximity to much shorter structures.

'I just can't get past the location,” he said. 'The location for me, I haven't been moved.”

Council member Rick Dobyns also noted the building's height and design, which has received mixed reviews from the public, but added that 'beauty is in the eye of the beholder.”

'It's not about the buildings. It's about the people who live in those buildings and what they bring to the economy in that area,” he said.

The council deferred on a May 19 vote to allow the city Planning and Zoning Commission an opportunity to weigh in on their 3-3 vote to rezone, but the commission opted out of an official consult.

On Thursday, the council will host a special formal meeting for the second rezoning vote and on June 8, the third reading is scheduled take place. Also June 8, votes will be cast on the development agreement and up to $14.2 million in Tax Increment Financing bonds proposed for the Chauncey.

The development agreement draft indicates that Chauncey developer Moen Group will invest $49 million in development costs for the tower, including office space, a hotel, bowling alley, two movie theaters, residential units and upgrades to the adjacent Chauncey Swan Park. The building will be constructed to at least LEED silver standards and in exchange for the project, which will be assessed at more than $30 million once finished, the city will convey the property to the developer at the appraised value of about $1.9 million, according to city documents.

The document also states the developer will provide the city with five one-bedroom condominium units for $1 million to be used as affordable housing units.