Downtown building to become home to some - KTIV News 4 Sioux City IA: News, Weather and Sports

Fresh off the success of Sioux City's first downtown condo project, developer Bart Connelly is planning a similar project down the block.

City officials say he plans to turn the top floors of the Steifel Nicholas building into market-rate condos.

The six-story building on 4th Street will have 18 condos ranging from 12-hundred to 14-hundred square feet.

According to paper work filed with the city, each condo will be worth 160-thousand dollars.

Connelly's applied for the several state financial incentives: sales tax refunds and state investment tax credits.

"It's a great trend for Sioux City and we think that will continue.  It brings more life, more people, more business activity, more economic activity into a downtown," explained Economic Development Director Marty Dougherty.

Connelly also plans to renovate the lower levels into brand-new retail and office space.  The price tag on the project is $2.9 million.

Work is expected to start this fall and finish in two years.

Monday, the city council will vote on whether Connelly qualified for the tax incentives.