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Iowa City plans 55 plus apartments on UI campus near Finkbine
The University of Iowa seeks approval for a 30 year ground lease to allow Melrose Partners to develop a four story 110 unit age 55 plus apartment complex southeast of Finkbine Golf Course. UI would receive annual rent of 130000 escalating 10 percent every five years with no equity. The project backs a joint venture of Focus Development and Newbury Living to build underground parking on 6.12 acres once part of the University Athletic Club site.
MENTIONED IN THIS ARTICLE
Iowa City
University of Iowa
University Athletic Club
Finkbine Golf Course
Board of Regents
Melrose Partners LP
Finkbine
Melrose Partners
The
Regents
Focus Development
Newbury Living