Woda Cooper Companies, Inc. (Woda Cooper) and co-developer, nonprofit Parallel Housing, Inc., hosted a groundbreaking ceremony for Timber Ridge, a new 52-unit affordable housing community for senior residents aged 62 and older with units targeted for renters at a mix of incomes up to 40% to 60% of the area median income. Timber Ridge is located at 2345 W. 54th Street, Davenport, Iowa 52806 and was supported by the allocation of 9% housing tax credits by the Iowa Finance Authority (IFA).
Timber Ridge will be an energy-efficient, three-story building with an elevator. It will offer 32 one-bedroom and 20 two-bedroom apartments. Current projected rents are $565 to $975 per month, depending on size of unit and income restriction.
