Hoppe & Son LLC, the Developer of the proposed River District apartments near 3rd Avenue North and Hawkeye, has asked the City Council for a short extension to their original land purchase agreement. Under the new plan, the proposed closing date would be no later than January 7th, 2026.
Under the original Agreement, Hoppe & Son LLC was allowed 9 months to close from the Iowa Finance Authority’s Low Income Housing Tax Credit program application deadline of February 19th, 2025. Recipients of the tax credit weren’t officially announced until May of 2025.
The location for the project would span the South side of 3rd Avenue Northwest, laid out between 5th Street Northwest and 9th Street Northwest.
The scope of the project calls for up 65 units. As a condition of the sale, the buyer will develop and construct 40 affordable units within 24 months, with a minimum $6,000,000 investment.
The Hawkeye Avenue / 3rd Avenue Northwest area has been a focus area as of recent years by City leaders. The street itself received a minor realignment and well as some grade softening. The area also saw the addition of a DG Market, an expanded Dollar General store that sells groceries, including fresh produce, meat, and dairy.
The item will be part of the consent agenda at the October 27th, 2025 City Council Meeting. That meeting will be held at 6:00 PM at the Council Chambers at the Municipal Building.
