Second-Story Tour to showcase downtown potential

Community members will have a chance to see what is available upstairs on the downtown square at the Second-Story Tour fundraiser sponsored by Newton Main Street.

Starting at 10 a.m. and running until noon on Oct. 10, the tour will showcase finished and unfinished upper stories at six commercial buildings in the Main Street District.

“Upper-story housing provides income for building owners, a customer base for businesses, adds vitality downtown and puts to use existing infrastructure, which is fiscally responsible,” Newton Main Street Organization Committee Chair and board member Bruce Showalter said.

“Our recent market analysis also shows considerable demand for downtown housing options.”

Introductory remarks will take place at the Capitol II Theatre before ticket holders are divided into smaller groups to begin the tour. Stops on the tour include properties above Forbes Office Solutions, Kitchen Concepts, Beckman Gallery, Koenen Chiropractic, Bridgehouse Coffee and S & S Investments offices.

Each stop will last approximately 15 minutes with property owners or a representative saying a few words to each group about the development process or about future plans for the space. The route covers less than a quarter of a mile, not including stairs.

The goal of the tour is to promote upper-floor residential development in the district and provide a glimpse of the unique second floors in the historic buildings. According to an Iowa Economic Development Authority study, the economic impact of Iowa downtowns for each second-story housing unit, rented to a couple for $500 to $1,000 per month, is between $19,400 and $38,900 per year.

Currently in Newton, there are about 76 apartments with 90 people living downtown with an additional 70,000 square feet of property available that is not income producing. In a recent survey of Newton residents, 9.9 percent said yes to considering living downtown with another 20.2 percent saying maybe.

“There is potential. There is space and people willing to live downtown but it has to be in a unit that is unique and takes advantage of the unique layouts of these downtown buildings,” Newton Main Street Executive Director Andrew Bassman said.

Tickets for tour are $20 per person and are available at the Chamber of Commerce from 8 a.m. to 5 p.m. weekdays. Funds from the event will go toward the Main Street downtown revitalization projects. Only 150 tickets are available for the tour.

For more information about the tour, contact Newton Main Street at 641-792-5545.

Contact Jamee A. Pierson at 641-792-3121 ext. 6534 or jpierson@newtondailynews.com