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Local Community Leaders Celebrate Ground Breaking of New Market Rate Luxury Lofts Project in Downtown Davenport

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John G. Ruhl, President of NAI Ruhl Commercial Company, and John Carroll of Carroll Law, along with their investment and development partners are pleased to announce the ground breaking of Pershing Hill Lofts, a market rate luxury loft redevelopment in Davenport, Iowa.

The Pershing Hill Lofts will consist of 62 market rate loft apartments, located at the corner of Pershing Avenue and East 5th Street in the historic Crescent Warehouse District of Davenport Iowa. The building will accompany 1, 2 and 3 bedroom lofts with large square foot layouts, some with 2 story vaulted ceilings and a large amount of off street parking. 

“The concept is designed to appeal to a younger generation that enjoys a more cultural experience as opposed to a suburban living environment as well as “empty-nesters interested in amenity-rich worry free environment close to the exciting new developments in downtown Davenport” said John G. Ruhl, President of NAI Ruhl Commercial Company. “With world-renowned Palmer College of Chiropractic, St. Ambrose University and the Rock Island Arsenal all within close proximity, there is always a constant stream of individuals looking for quality and fun apartment living.  The region of east downtown Davenport is particularly suited for this type of housing.”

The Crescent Lofts, Seig Iron Lofts, Crescent Macaroni, and Forrest Block are prime examples of historical warehouses in downtown Davenport that have been successfully renovated as loft apartments; all of which are at full occupancy with waiting lists and demand beyond capacity.

“We are excited to see this $15,000,000 investment in downtown Davenport which rounds out what is now known as the ‘loft district’. Our 100% local investor group is anxious to make their mark on a newly revitalized downtown.” commented John M. Carroll.

Construction will begin immediately by Bush Construction, and units are expected to be available within 12 -18 months.

Many local organizations, financial institutions and government leaders played a role in developing this project.  A special thank you should be noted to Northwest Bank and Quad City Bank and Trust for being preliminary lenders in this project as well as to Bank of Springfield, Bank of Labor, Blackhawk Bank and First State Bank of Illinois all of whom worked extremely hard to make the development a reality.

For leasing information contact:

John G. Ruhl

563-355-4000

jruhl@ruhlcommercial.com

www.ruhlcommercial.com


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