Hunter
05/06/25
A local real estate developer who wanted to construct an 84-unit apartment complex on the north side of Iowa City now wants to sell the property to the City to use for affordable housing.
The Gazette reports TSB Holdings, owned by Tracy Barkalow, has asked the city to rezone the property at 902 North Dodge Street. In a letter to the City Council, Barkalow wrote, “TSB Holdings LLC plans to sell the entire site no matter what the outcome of the rezoning inclusive of all the existing properties anyway. TSB Holdings LLC felt that the City of Iowa City might as well take control of the site to avoid more zoning or legal issues in the future with our company or a new owner.”
The property currently features a vacant office building, two single-family homes, two duplexes and two multifamily residences. The rental properties are committed until July 2026. TSB Holdings requested the property be rezoned to high density single family and medium density multifamily zone to allow the apartment complex to be constructed.
The Planning and Zoning Commission voted in favor of the rezoning in February, but the City Council has deferred on the vote twice since then. Neighbors of the property have also filed a petition of protest, which means that six of the seven Council members would have to approve the rezoning for it to go through.
The City Council is due to discuss the issue with the Planning and Zoning Commission at a work session ahead of tonight’s formal meeting.