DECORAH, IOWA – Originally built in the late 1800s and expanded throughout the 20th century, the Anundsen Publishing Company Buildings have stood at the center of downtown Decorah for generations. Major construction is now officially underway on the $4.6 million historic redevelopment project, with the buildings planned to reopen by February 2027 for residents, businesses, and visitors.
Located at 105, 107 East Water Street and 108 Washington Street, the project will revitalize more than 15,000 square feet of downtown space through a collaborative effort involving over 35 partners, including local investors, contractors, lenders, community organizations, and state and national preservation programs.
The redevelopment will create nine market-rate apartments on the upper levels along with multiple commercial suites on the main floor. The development team is currently providing tours to prospective retail, restaurant, and office tenants interested in leasing space.
The historic renovation is being led by Rebound Real Estate in partnership with the Decorah Real Estate Fund, which includes more than 20 local individuals. Decorah-based contractor David Finholt Construction Inc. is serving as the project’s general contractor and leading construction efforts alongside a strong team of area subcontractors and trades, including Marv Smith Plumbing & Heating, Marso Electric, Tom’s Painting, Fireline Sprinkler, Rusty Berger Masonry, Allen Roofing, Tryad Kitchens, Fashion Floor Center, Silver Creek Hardwood Floors and more.
The project is made possible through financing and support from Fidelity Bank & Trust, Decorah Bank & Trust, Upper Explorerland Regional Planning Commission, the Decorah Area Chamber of Commerce, the City of Decorah, and other community partners. In addition, the revitalization was made financially feasible through more than $2 million in State and Federal tax credits, including Federal Historic Tax Credits and three State of Iowa programs (State Historic, Workforce Housing, and Grayfield).
A unique piece of the building’s history is that the second floor of 105 E Water Street was added in 1955 by Anundsen Publishing Company to expand its printing operations. The second-floor panels above the former Happy Joe’s space at 105 E Water Street were intentionally designed to be removable so large printing presses could be lifted directly into the building. Since the property is listed on the National Register of Historic Places and utilizes historic tax credits, the redevelopment must follow strict preservation standards. As a result, the panels cannot be altered as they were constructed during the building’s historic period of significance. The buildings will receive major exterior improvements, including new windows, roof upgrades, brick and facade restoration, and updated building systems to help preserve the property for years to come.
Brett Reese, Managing Partner of Rebound Real Estate, shared, “We are pleased to be a part of this important downtown project with local investors. The Anundsen buildings have been part of downtown Decorah for generations, and this project is an opportunity to preserve that history while creating new housing, commercial activity, and long-term investment in the community.”
Prospective residents and businesses are encouraged to contact the development team soon to secure a place on the apartment wait list and inquire about the commercial leasing opportunities opening in 2027.
More Information
- Ryan Torbenson, Development Manager
- 5075814745
- rtorbenson@reboundpartners.com