DAVENPORT, IOWA (July 23, 2019) — The Downtown Davenport Partnership (DDP) annual meeting was held on Tuesday highlighting 2018-2019 downtown growth, flood-relief grant-funding, and a look toward the future of downtown development.
From July 2018 to June 2019, 14 projects representing $43 million of new investment were completed. Projects currently under/pending construction represent an additional $30 million of investment, and more than $25 million is planned for investment in the near future. In total, over $588 million has been invested in downtown Davenport since 2000.
“The past year has been extremely challenging for downtown business and property owners following a brutally cold winter, routine road closures, and, of course, the historic 2019 flood,” said Kyle Carter, Executive Director, DDP. “Despite this hardship, downtown has proven resilient, enjoying significant new investment with much to look forward to in the coming year.”
Highlights discussed at the meeting included:
- Over $400,000 in flood relief grants approved to assist 87 business and property owners across Iowa and Illinois via Grow Quad Cities — Iowa Fund and DDP Self-Supported Municipal Improvement District (SSMID) dollars. DDP will remain an active voice in short and long-term flood mitigation planning with our public and private partners.
- DDP will lead in the creation of a new downtown Strategic Master Plan over the next year, setting a bold vision for downtown’s economic and cultural future.
- The Davenport Motor Row and Industrial Historic District was added to the National Register for Historic Places. With this designation, “contributing” properties are eligible for federal and state tax benefits. Much of this district was significantly affected by flooding and the successful nomination will benefit the corridor’s future redevelopment.
- Two Opportunity Zones were approved within the city of Davenport; downtown is in the heart of one of the districts. An Opportunity Zone is a new federal incentive designed to spur economic development by providing unique tax benefits to investors in the defined geographic zone.
- The plan to bring two-way traffic back to 3rd and 4th Streets could get a financial boost from DDP in conjunction with the future reconstruction of both streets. DDP is considering long-term funding to help close the financial gap for conversion at the time of street reconstruction.
- Following the flood of 2019, DDP is launching a new ad campaign to drive traffic to downtown businesses in the upcoming year. Generous in-kind donations from On-Media/Mediacom and the Quad-City Times made this campaign possible.
- There are now over 1,500 residential units now downtown, with 113 units added in past year with the Gordon Van Tine Lofts project located at 736 Federal St. and additional projects pending construction.
- As a result of recent and new public-private agreements with the City of Davenport, construction is now pending to upgrade all downtown decorative streetlight poles to LED lighting, improving pedestrian safety, visibility and consistency of appearance.
- Scott County Family YMCA is expected to break ground this fall on the new $22 million Downtown Davenport YMCA. This new building, located near the corner of 4th St. and River Drive, will include 22,000 square feet of fitness space for people of all ages.
- DDP was proud to help close the funding gap to ensure the King’s Harvest Winter Emergency Shelter remained open with staffing by Humility of Mary last December.
- A new downtown website was launched showcasing a calendar of events, business directory and all the things downtown has to offer. Visit the site at www.downtowndavenport.com.
“I encourage Quad Citizens to go downtown; the best way you can support local businesses is to be here,” said Carter. “Downtown Davenport has a great variety of experiences just waiting for you to enjoy.”
About Downtown Davenport Partnership:
DDP, a division of the Quad Cities Chamber, administers the downtown Davenport Self-Supported Municipal Improvement District (SSMID). DDP provides leadership and advocacy for downtown economic development, planning, cultural vitality, events, marketing and clean-and-safe initiatives.