By Kristen Johnson, Multimedia Journalist/ Weekend Anchor - bio | email
SIOUX CITY, Iowa (KTIV) -
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.
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