Riverfront Crossing District Development Site at 1020 Gilbert $1,700,000

Lot For Sale

Riverfront Crossing District Development Site at 1020 Gilbert Street & 320 First Street, Iowa City. Multi-housing development opportunity located in the highly sought-after Riverfront Crossing District, benefiting from the district's form-based zoning incentives designed to encourage dense, mixed-use urban projects. The zoning framework supports a ground-floor commercial component, which may also incorporate building management or recreational amenities, with apartments or condominiums above rising to six to seven stories. The site consists of approximately .55 acres, offered at $1,700,000, equating to approximately $71 per square foot. A garage currently used by the owner occupies the property, allowing for immediate redevelopment with no tenant relocation concerns. An assemblage opportunity exists with the contiguous parcel to the north, creating a combined 1.13-acre development site with a total offering price of $3,500,000. The property offers convenient access from the south via First Street and is ideally positioned near entertainment, dining, shopping, and public transportation, just minutes from downtown and the University of Iowa campus.