The city Waterloo is planning to convert a long vacant Rath meatpacking plant building into almost 90 affordable apartments for seniors.
Waterloo City Administrator Noel Anderson says that could free up many single-family homes for first-time homebuyers, and could mean revitalization for the city. “We need that new construction or rehabilitation of senior housing greatly in Waterloo to help open some of these existing neighborhoods for new housing opportunities,” he says. The administration building is more than 70,000 square feet and has been vacant since 1985 when the company went bankrupt.
Anderson says the building will be will converted into studio, one bedroom and two-bedroom apartments. “Sometimes it’s a matter of having more options out there for seniors will help reinvest back into those neighborhoods not only with new owners, but with a new populations,” he says.
The city anticipates construction will get underway this summer.
(By Grant Winterer, Iowa Public Radio)