DAVENPORT -- Financial District Properties is spending $20 million to reinvigorate two landmark buildings in downtown Davenport, giving vacant commercial space new purpose as residential apartments.
The company is spending $7 million to renovate four floors of the 86-year-old Wells Fargo bank building at 203 W. 3rd St. into 29 apartments and to renovate two floors of commercial space.
Later this year, FDP plans to launch a $12 million to $13 million renovation of the 98-year-old Union Arcade building at 229 N. Brady St. into 68 apartments.
Both properties are on the National Register of Historic Places.
Bryce Henderson, FDP chief operating officer and chief financial officer, said the targeted renovation and reuse will ensure the continued life of each building for another 50 years or more. more
*courtesy of the Dispatch Argus