- Associated Press - Wednesday, August 13, 2014

DAVENPORT, Iowa (AP) - Restoration St. Louis and Eastern Iowa Community Colleges are teaming up to bring an urban campus and housing to downtown Davenport.

The building partnership announced a $50 million plan to create a campus and 80 apartments, the Quad-City Times (https://bit.ly/1sCeshS ) reported. The project also includes restorations of the Capitol Theatre and the Kahl Building. Classrooms that are currently inside of the Kahl Building will be moved to two former bank buildings, First Federal Bank and First Midwest Bank, in the center of the new mini-campus.

The Capitol Theatre will be transformed into a movie theater, while the Kahl Building will be renovated to house the apartment units.

Sam Estep, senior vice president of development for Restoration St. Louis, said the project will provide amenities and retail locations that will make the downtown area more attractive.

“We want to create a vibrant, very alive, much more populated downtown,” Estep said. “Our commitment to downtown Davenport is strong.”

Officials at Eastern Iowa Community Colleges said they plan to determine a method of funding that won’t raise taxes or tuition. Chancellor Don Doucette said historic tax credits on the Kahl Building and First Federal Bank will help finance the project. He said the college also plans to issue general-obligation bonds and seek contributions from the community.

“The college has been involved in the downtown for many years, and we’d like to expand that involvement,” said Bob Gallagher, chairman of Eastern Iowa’s board of trustees.

The board signed a letter of intent Tuesday to move forward with development.

The target date for the completion of the new urban campus is fall 2016.

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Information from: Quad-City Times, https://www.qctimes.com

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