NEWTON, Iowa — Since 2010, the city of Newton has been rapidly expanding. Now, the city will be able to convert one of its oldest and most iconic buildings, giving it a new life.
It was once the home of a booming company and their innovative washing machines. American home and appliance manufacturer Maytag occupied four buildings in the heart of the city.
After being acquired by Whirlpool in 2006, the company left the spaces, and the residents of Newton, behind.
"Iowa Telecom, which was a local telecom company, bought the buildings from Whirlpool," said Kim Didier, Executive Director of DMACC Business Resources. "They held them for over five years until they were purchased by Windstream.”
Windstream ultimately had no use for the space, instead gifting all of the buildings to DMACC.
“It's been a collaborative effort with all organizations throughout Newton, but also with the state and many of the programs that we're able to use the Iowa reinvestment district," Didier said.
That effort, along with a $1.25 million gift from the Iowa Economic Development Authority Board, will now fund the project to transform the space into both a hotel and an apartment complex.
City leaders hope it will fill in some gaps in the city.
"We are a growing community. We grew three percent from 2010 to 2020," Newton Development Strategist Craig Armstrong said. "We are now at the highest level of population ever in the history of Newton, including the heyday of Maytag in 1970.”
But housing in Newton hasn’t kept up with that growth, according to Armstrong.
"We intend to continue that 3% growth, maybe make that a 6% growth by the time we hit 2030," he added. "We can do that through development.”
Construction is already underway and should be completed by 2024. With a variety of businesses and restaurants surrounding the new residential area, the new mixed-use plaza will be up and running by 2024.
Christensen Development, based out of Des Moines, is leading the renovation efforts. The company specializes in renovations of historic buildings, such as the Iowa Taproom and AP Lofts.
They plans to keep the iconic Maytag branding on the exterior of the soon-to-be boutique hotel.