Demand For Loft Apartments Rising - News and Weather For The Quad Cities -

Demand For Loft Apartments Rising


It's a trend we've been seeing in the Quad Cities for quite some time now, old buildings turning into modern living space or room for new businesses. 

"It's been pretty steady for the last five years, if you build them and they're nice, people want to live there," Developer Joe Erenberger says. 

Developers say, it's all about a new generation wanting convenience.  

"We have an urban movement, young professionals, they don't want to start in a home, they want to start downtown, close to amenities, walk to work, walk to entertainment," Developer Dan Dolan says.

Also an aging population: 

"You don't need as much space if you don't have three or four kids in the house," Dolan says. 

And a growing downtown. 

"We've got more breweries, more little shops, more little restaurants," Erenberger says. 

That has builders and residents jumping on every available spot. 

"We're trying to grab as many as we can," Erenberger says. 

In downtown Moline, the Phillips Lofts just opened this year, and are nearly full, with only five vacancies. Across the street, the Berglund Flats aren't even done and has potential tenants for half the apartments. 

In downtown Davenport Joe Erenberger has five different projects going on to rehab old buildings, including the Peterson Paper Building on Second Street. The plan is to have 19 one and two bedroom units on the upper floors and a local brewery on the first floor. 

Half the units are already taken.  

"As soon as we get them done they're full," Erenberger says. 

Developers say they're constantly getting calls from the Arsenal and other companies moving in new employees to fill these spots, so we could see a lot more of this popping up soon.  

"The re-use of the building, it's recycling is what it is," Erenberger says, "It's the future, anything we can recycle, we'll recycle."

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