TWG today is developing Annex on the Square, a mixed-use, mixed-income multifamily property set to cover a city block in downtown Cedar Rapids, Iowa.
The $49 million property will be located at 501 4th Ave. SE in the heart of Cedar Rapids. As a mixed-income housing development, Annex on the Square will reserve 202 units for those residents earning up to 60 percent of the area median income, with 22 units available at market-rate. TWG will serve as the owner and general contractor of the property. Floor plans include studio, one- and two-bedroom apartment options.
Amenities of the new property include a pool, fitness room, business center, bike storage, a gated garage, leasing office and a spacious top floor deck overlooking the adjacent park. The mixed-use property will also feature 1,219 square feet of retail space.
Mark Stoffer Hunter served as the Historian TWG worked with to document and commemorate the buildings currently on the block. Jeremy Tipton of NAI Iowa Realty Commercial served as broker, supporting the project and coordinating the land acquisition. Construction is set to begin in December 2021 and is expected to conclude in January 2024.