Business

Urban Acres to open new Coralville headquarters

Real estate agency will move from Iowa City

A rendering shows the proposed Urban Acres headquarters building in Coralville. (Urban Acres)
A rendering shows the proposed Urban Acres headquarters building in Coralville. (Urban Acres)

Urban Acres, a relatively new real estate agency in the Corridor, will move into a new headquarters building in Coralville later this year.

The agency announced Tuesday that it plans to occupy 9,500 square feet in a building off Holiday Road. It will move from its current headquarters on Gilbert Street in Iowa City.

Urban Acres’ office will be located in the Bridgewater Subdivision, which also is slated to have single family homes, townhomes, multiple condo buildings and a $50 million senior housing development, according to a statement. The subdivision is located north of Interstate 80 and west of First Avenue in Coralville.

Urban Acres has contracted with Grand Rail Development of North Liberty to construct its new headquarters. The building will cost $2.8 million and Urban Acres did not seek any incentives, a spokeswoman said.

The agency formed after 35 Iowa City-based real estate agents started it in October 2015. Urban Acres now has 53 agents.

l Comments: (319) 398-8366; matthew.patane@thegazette.com

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