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Home / 90-unit apartment set to break ground in Marion next week
90-unit apartment set to break ground in Marion next week
$11.5 million development joins other multifamily projects in the works in city
MARION — Construction on a four-story, 90-plus-unit apartment building will begin next week in Marion.
The large building, 640 Marion Blvd., will be developed on the former Hames Homes site at the western gateway of Marion.
Talon Development of Sioux Falls, S.D., is constructing the 93-unit apartment building. It will include a mix of studio, one- and two-bedroom units.
Marion Economic Development Corp. President Nick Glew said this project’s location near the Marion-Cedar Rapids border is a critical site.
“It’s a site that sat for sale for a few years as the prior users moved on, and it’s created a great redevelopment opportunity,” Glew said. “We have seen a few express interest in the site. One was for self storage and another one was a convenience store. The use of multifamily housing is really going to be a great first impression for folks entering the community in a much better way than the other potential uses would’ve been.”
When complete, the building will offer units for around $715 to $1,000 per month. Glew said there will be no income restrictions for people who choose to live there.
Glew said he was first in contact with the developer, Talon, in January 2021. The company has been working on the design ever since. Last month, the Marion City Council approved the final design of the $11.5 million project.
“We worked with the developer to craft an application and were successful in receiving $1 million in workforce housing tax credits” from the state, he said.
The credit, Glew said, helps offset the cost of redeveloping a site, which costs more than building on undeveloped land.
The project, one of the largest multifamily developments in Marion, comes as other multifamily projects are in the works.
“I think everyone knows in the city of Marion, we have no problem building single-family homes,” Glew said. “The challenge right now is diversifying the type of housing and affordability of new housing stock. We have not had significant multifamily projects here for quite some time, but there are several in the pipeline right now.”
Broad and Main, under development by Eagle View Partners of Cedar Falls, is being built along Seventh Avenue where the Marion Square Plaza strip mall once sat. The first building of the two-building project is set to be finished this summer. The other building, slated to open in 2023, will be solely residential with 42 units.
The old Marion YMCA site is being transformed into a new apartment development, Green Park Apartment Living. Ahmann Cos. of Hiawatha is building a series of three residential buildings, with the largest having almost 70 market-rate apartment units and parking on the first floor.
Glew said all these projects are needed to support and continue Marion’s growth.
“These rental units are an important example that we can't just focus on single-family homes but rental opportunities for our growing, diverse workforce,” Glew said. “If we can't have diverse housing, then we can’t attract new people to our community … This new project is great because it helps balance out price points. We need various price points to offer as well to cover all areas of the market.”
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