Four-story building in NewBo to feature retail, living spaces

CEDAR RAPIDS - The New Bohemia District, which has become a hot spot in Cedar Rapids in the years since the 2008 flood, is set to see another mixed commercial-residential development.

Plans call for the construction of the 329 Building at 329 12th Ave. SE across from the NewBo City Market and adjacent to Brewhemia, according to a news release on Wednesday from Pivot Real Estate, which is a division of Ahmann Cos.

Ahmann Cos. is to develop the land on behalf of 2025 Development LLC, which owns the land that is partially used as parking lot and has a grassy, undeveloped section. 2025 Development is a partnership between four local businessmen. Dennis Henderson is the only listed member, according to the Iowa Secretary of State business entity registry.

Craig Byers with Pivot Real Estate is to be the commercial leasing agent. The 329 Building is slated for construction beginning in July or August.

The four-story building includes 9,600 square feet of retail space on the first floor, 18 apartments on the second and third floors and five condominiums on the fourth floor.

Up to four commercial tenants could occupy the first floor, which are to feature large windows and an exterior with an 'eclectic use of materials that will fit nicely with the surrounding neighborhood,” according to the news release.

The 38,400-square-foot building has an estimated cost of $5 million.

The project is part of a wave of development that has sprouted up in NewBo. Ahmann Cos. also is in the midst of developing The Depot, a four building, $20 million project in the old Iowa Iron Works site.

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