Proposals for vacant Bettendorf property to be pitched

Proposals for vacant Bettendorf property to be pitched

BETTENDORF (AP) — Bettendorf officials will hear next week from private developers interested in building on a city-owned vacant lot that property officials have dubbed 'Town Square.' Russell Companies of Davenport and West Des Moines-based Newbury Living will present their ideas Monday at City Hall in two separate afternoon meetings, the Quad-City Times reported.

A 12-member committee of city staff and aldermen first discussed the firms' proposals on Oct. 13. Initially, both development firms submitted expansive applications that propose larger, mixed-use developments and cover more ground than city officials say they expected.

Since then, Newbury has pared down its proposal to one square block that includes a two-story, 36-unit residential development and a 16,500-square-foot multi-tenant restaurant building, Newbury Living president Frank Levy said.

That could leave redevelopment of the surrounding blocks to Russell Companies, Levy said.

'My opponent — besides the fact that they're local — they're talented and they brought some elements that we didn't bring,' he said.

But Dave Smith, vice president of development services for Russell Companies, said his team isn't interested in a joint venture with Newbury.

'We've assembled a team of partners that actually own property in the downtown area and are lifelong residents and players in the community, so it really didn't make a lot of sense,' Smith said.

Jeff Reiter, Bettendorf's economic development director, said the Town Square committee could select its final candidate by Nov. 5, and then would begin development agreement negotiations.