Here's the site plan that MetroPlains was kind enough to give me for their renovation of the Salvation Army building in downtown Davenport. I have heard this refered to as the Riverwalk Lofts, but I don't see a final name on this plan. It also shows what could be a future Phase 2 on the east side of the block. Nothing is determined about this yet, however. I'd suspect it depends on the success of Phase 1. They hope to start construction within the year, and estimate it will take around 10 months to complete the renovation.
I know how some of you feel about limited-income apartments, but that's what the government gives out the grants for at the moment. Without alternative financing you'd have to charge $2000 a month to renovate some of these warehouse buildings. What's interesting is that market rate (expensive) apartments are actually renting faster than the tax-credit (still not cheap) apartments in the Crescent Lofts complex. Hopefully this means that a market rate apartment or condo building will be in the near future for downtown Davenport.
What people need to keep in mind is that every additional resident that moves downtown gets us that much closer to the critical mass where retail and dining starts to come in to cater to downtown residents. Once that happens, even more people will want to live near these things and downtown really starts thriving.
This could turn out to be a great site, considering how close to the downtown core it is. Once the Freight House is rejuvenated there will be nightlife across the street, more nightlife up on Third Street, and the Figge just a couple blocks away. Lets hope it does well and compliments the other projects going on downtown.