West end of Davenport downtown may get development

A Minnesota developer proposesconstruction ofa 48-unit apartment building at the corner of Davenport's West 4th and Gaines streets, away from the booming rental neighborhood at the east end of downtown.

Stan Buesing, whose family owns the property, confirmed the interest in his property at that intersection. They have a tentative offer with MWF Properties of Minneapolis, pending financing. He declined to say how much the offer is.

Alderman Bill Boom, 3rd Ward, who represents the downtown, said he likes the project. It is expected to have a handful of market-rate apartments along with affordable housing options.

"I think it is the start of something," Boom said. "We are starting to see investment further and further west. It would be a great development for that corner and allow us to clean up that corner."

The building will be four stories and offer underground parking on the north half of the block. The project doesn't require rezoning but would go through the Design Review Board process for the downtown.

Alderman Gene Meeker, at large, who chairs the council's economic development committee, sees good and not so good in the project.

"It would be nice to get some of those properties cleaned up over in that area," he said. "Were always looking for investment in our community, but were getting more than our share of subsidized housing."

MWF, one of three companies the city council backed for tax credit applications earlier this month, isn't expected to hear whether it will receive those until the end of January, Buesing said. Bruce Berger, of the city's Community Planning and Economic Development Department, said he doesn't expect an answer until March.

Buesing said it was time to sell the property and it had been on the market for some time.

"We wanted to get out from under the building," Buesing said of his family. "Wed like to get the money so our kids dont have to worry about it if something happens to us.

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West end of Davenport downtown may get development