Hubbell Realty begins $46.8 million Marlow 35 rental housing project in Ankeny
1 report, 1 independent
Updated Oct 21
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What happened
Hubbell Realty Co. is beginning construction this fall on Marlow 35, a 200-unit rental townhome community in Ankeny. The project is estimated to cost $46.8 million and will be built on a 16-acre site. Officials noted the development aims to support the housing needs of Ankeny, where the multifamily vacancy rate is 5.3%.
From businessrecord.com
Why it matters
The project responds to Ankeny's growth, which has increased by more than 14% over the past five years. Matt Weller, vice president of development for Hubbell, stated that the community reflects the strong market fundamentals and demand for high-quality rental housing in the area.
From businessrecord.com
Who's involved
- AnkenyCity where the new 200-unit rental townhome community is being built
- Fourmile CreekCommunity and Economic Development Director for Ankeny
- AtkinsVice president of development for Hubbell
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The entities involved
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Ankeny
city in Polk County, Iowa, United States