UP FOR DISCUSSION: Riverwatch Place - 227 LeClaire St.
(October 16, 2024) Riverwatch Place is a commercial project proposed by a developer for a hotel and an office building on the triangle-shaped property located at 3rd and LeClaire Streets in downtown Davenport.
The Davenport City Council is considering a financial agreement with the developer to help pay for the hotel project using hotel/motel tax funds.
What are the developer's plans?
The proposal includes 2 buildings: a 4-story hotel and a 4-story commercial building.
1. Hotel
- Marriott Townplace Suites Hotel with extended stay options
- 82 rooms, including a pool and rooftop patio
2. Commercial Building
- Mixed use - restaurant, two floors of office space and top floor event center
What’s the City of Davenport’s role in the plans?
The developer is asking the City for a tax rebate over 15 years, beginning upon completion of the project. For the first ten years, the City would repay the developer 75% of the City’s share of revenue collected through the hotel/motel tax. For the remaining 5 years, the rebate would drop to 50%.
The City Council’s role is to approve or deny the financial incentive agreement. No other aspect of the project is part of the Council’s decision-making.
Why now?
The site has been a vacant lot since demolition of the last hotel structure in 2015. It’s a challenging site, located in both the floodway and the floodplain. Plus, its size limits the development options and potential for parking. This developer is proposing elevating the site, aligning with the City’s plans to elevate the adjacent intersection as part of its federally funded flood mitigation project. This will keep the area open and protected up to a 23’ flood incident.
What’s next?
The City Council tabled the discussion at its meeting on October 16, 2024. It will be back on the agenda to either approve or deny the development agreement at its meeting on November 26, 2024.
If the developer moves forward, the work is expected to be complete by the end of 2026.