WATERLOO, Iowa (AP) — A developer plans to build a $9 million apartment complex in Waterloo on the site of a former downtown hotel demolished in 2010.
The Waterloo-Cedar Falls Courier reports the planned four-story, 70-unit apartment building would be built at the site of the Grand Hotel, which was torn down after deteriorating and becoming an eyesore.
Cedar Falls native Brent Dahlstrom is behind the project, made up of one- and two-bedroom units.
The project could be eligible for an $895,000 investment tax credit and $275,000 sales tax refund.
Dahlstrom indicates he wants to begin work this summer with completion in spring 2015.
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