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Washington Evening Journal
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Washington, IA 52353
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Updating history
FAIRFIELD - The project to renovate the Broadway Building into affordable apartments is now a reality six years after its owner announced a desire to spruce up the historic structure.
The building, located at 607 W. Broadway Ave. in Fairfield, was once home to Louden Machinery Company, which sold barn products around the world. Today, thanks to housing tax credits and private investors, the building has been converted into Louden Housing consisting of 44 apartment dwellings, 39 of which are for low-income households, while the rest are market rate.
CBC Financial Corporation received almost half a million dollars from the Iowa Finance Authority to renovate the building into an affordable housing project. Before renovations were finished last year, the building had only 18 units with plenty of empty space. The building's first floor had once been home to Café Paradiso and Vivo's Restaurant, but that space was turned into apartments during this most recent renovation.
One of the conditions of the Iowa Finance Authority's grant was to maintain as many historic features as possible. Visitors to the building's first floor lobby can see a hay carrier and a large barn door. David Coffinger of CBC Financial said it was no easy task to move the massive hay carrier into its current spot near the building's south entrance, but it was worth it to preserve that part of the building's history. Framed posters in the lobby tell the story of Louden Machinery Company, and one of the business's old scales greets visitors as they board the elevator.
Ivonne Casarrubias, the building's property manager, said the apartments started filling up in September after renovations were complete, and by the end of the year, all units were filled. There is now a waiting list to get in.
'Ever since we started showing the apartments, we've gotten a lot of good comments on them,” Casarrubias said.
Coffinger said local financiers of the project, Iowa State Bank in Fairfield and AHEAD Regional Housing Trust Fund in Ottumwa, have sent representatives to tour the building, and they came away impressed, too.
Remodeling the building required not just making it look beautiful on the outside with new windows and paint but fixing problems hidden from view, such as removing the rotted beams and joists and ridding the building of asbestos and lead paint.
'It was a lengthy process,” Coffinger said.
The project received investments from big corporations such as Apple and Berkshire Hathaway. Coffinger said they are sticklers for ensuring that all environmental regulations are followed.
Every unit has a washer and dryer, stove, oven, microwave, dishwasher, refrigerator and a 5 megabyte internet connection through Natel.
When CBC Financial President Jim Danaher announced his company's plans to renovate the building six years ago, the original plan was to convert the building into apartments for seniors. Over time, that goal changed, and the company decided to turn them into apartments for all ages, and to look into building another apartment complex nearby specifically for seniors.
Ivonne Casarrubias, the property manager at Louden Housing in Fairfield, said it didn't take long for all 44 units in the building to be filled after they were remodeled last year. (Andy Hallman/The Union)
From left, David Humphreys, Ivonne Casarrubias and David Coffinger stand in the hallway of an upper floor in the recently renovated Broadway Building known as Louden Housing. (Andy Hallman/The Union)
The first floor of the Broadway Building highlights its history as the former home of Louden Machinery Company by having on display an old hay carrier and barn door from the company. (Andy Hallman/The Union)
A bedroom in one of the newly remodeled units at Louden Housing LLC in Fairfield. (Andy Hallman/The Union)
The Broadway Building on West Broadway Avenue in Fairfield is home to 44 rental units that were remodeled last year. (Andy Hallman/The Union)
From left, Ivonne Casarubias, David Coffinger, David Humphreys and David Huff tour one of the 44 units in what is now known as Louden Housing. (Andy Hallman/The Union)
From left, David Coffinger, Mark Pohren and David Humphreys stand next to the large scale that was once part of the Louden Machinery Company and is now a decoration in the newly remodeled Louden Housing. Pohren is a tenant in the building and said he's lived in his apartment for about four months, and that he likes the renovations. (Andy Hallman/The Union)
