SPENCER, IOWA – The Spencer Economic Development Corporation (SEDC) is proud to announce the acquisition of seven multi-family residential apartment buildings in Southwest Spencer, Iowa, as part of its ongoing commitment to enhancing the community’s infrastructure and housing opportunities.
These properties on 1st and 2nd Avenue SW were significantly damaged during the June 2024 flood. SEDC and the City of Spencer will oversee the demolition of the current apartments and garages on the sites, clearing the way for innovative redevelopment projects that will provide modern, multi-family housing for the Spencer community. Redevelopment will adhere to stringent guidelines aimed at mitigating potential damage from future flooding, ensuring safe and sustainable housing for generations to come.
“This project represents a significant step forward for our city as we work to rebuild and revitalize after last year’s disaster,” said Philip Ramstack, President of SEDC. “By preparing these lots for redevelopment, we’re not only addressing immediate community needs but also laying the foundation for long-term growth and resilience.”
The cleared lots will serve as the basis for future multi-family housing developments aimed at supporting economic growth, fostering community, and ensuring sustainable recovery for the impacted neighborhood. This project underscores SEDC’s dedication to providing safe, attractive, and affordable housing options for current and future residents.
SEDC invites community members to stay informed about the progress of this redevelopment project. Updates will be provided regularly through SEDC’s website, spenceredc.com, and through local media.
Interested developers can reach out regarding the properties by email at info@spenceredc.com or by calling the Iowa Lakes Corridor Development Corporation at 712-264-3474.
