The developer behind Davenport's riverfront Dock project has a new deadline.
On Wednesday, April 8, 2015, the city council approved an 11-week extension for developer Todd Raufeisen to demolish the old Dock building. He says the delay is due to Mayor Bill Gluba’s veto of the project last summer, as well as additional design work that needs to be done.
Raufeisen plans to build a new, $12 million structure with three restaurants on the first floor, offices on the second, and banquet space on the third.
"We've started," said Raufeisen on Wednesday night.
Raufeisen said he has submitted permits to the EPA and has gotten bids for demolition. The new building, he said, is now in the final design process.
"Then we'll wrap up the entire cost of build-out associated with the leases, and then we'll have a final number. Then we'll have final financing," said Raufeisen.
Raufeisen said he plans to deliver the finished building to the restaurants and tenants in October of 2016, with an opening planned for March of 2017.
"To a lot of people, that seems like a long time, but for a project of this nature, this scope and size, it's really not," said Raufeisen.
Despite the delays, aldermen said they remain fully committed to the project.
"I think he's ready to rock and roll," said Bill Boom, third ward alderman. "He's got all of his tenants signed, 100 percent, the building's full. As far as a business plan, that's a good business plan. So, I anticipate we'll see this project go forward."
The council, though, also directed city staff to go out and get demolition bids of their own on Wednesday.
If the project does not move forward, the city plans to tear down the old Dock building by the end of the summer with uncommitted downtown TIF funds.