COUNCIL BLUFFS — A lot of physical activity will be happening soon in the old Kirn Gym — activity in the form of reconstruction of the space into apartments.
J Development Co. of Council Bluffs plans to convert the vacant gymnasium at 510 Bluffs St. into 20 apartments.
“They would like to start the project at the end of the month and be completed in six or seven months,” said Brenda Carrico, program coordinator for the city’s Community Development Department. “There will be eight garden units and 12 units on the main level.”
Units will be one- and two-bedroom models, plus some loft units, Carrico said.
Total cost of the project is to be more than $2.5 million, she said.
Various funding sources and tax breaks have been identified for this project, including a request to the state for $211,000 in brownfield/greyfield redevelopment tax credits.
One requirement to obtain those tax credits is city support for the request, she said. The City Council will vote Monday evening on whether to support the request.
The project already has received city and state approval for enterprise zone benefits that offer state sales tax rebates, plus a 10-year property tax abatement on the increased taxable value of the project, Carrico said.