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The City of Marshalltown is receiving $550,000 from the Iowa Economic Development Authority to assist the developers of the Willard Building in the creation of five new upper story housing units. The funding comes from a Community Development Block Grant designed to encourage upper story housing development, with $50,000 of the grant to add solar panels to the project as part of a GreenStreets project requirement. Only one other project was awarded the additional amount for a GreenStreets project. The City Council heard a presentation from Janelle and Joe Carter and Peter Cutler and Scott Cutler on August 9th about the proposed scope of work to take the now vacant store and perform a historic renovation to convert it into upper story housing with first floor commercial spaces. The group is also focusing on plans next door for the Hopkins Building, with the City pursuing additional grants for that project.
This funding announcement comes at the same time as a $500,000 Downtown Revitalization Grant for facade work on 11 facades.