TWG Breaks Ground on $49M Mixed-Income Apartment Community in Cedar Rapids, Iowa

CEDAR RAPIDS, IOWA — Developer TWG has broken ground on Annex on the Square, a $49 million mixed-income apartment community in downtown Cedar Rapids. The property will include 202 units for residents earning up to 60 percent of the area median income along with 22 market-rate units. TWG will serve as owner and general contractor. Amenities will include a pool, fitness room, business center, bike storage, gated garage and top-floor deck. The development will also include 1,219 square feet of retail space. Studio Architecture is the project architect. Jeremy Tipton of NAI Iowa Realty Commercial coordinated the land acquisition. Completion is slated for January 2024.