WATERLOO - Terri Poe Buschkamp couldn't be more proud of how downtown is shaping up.

As executive director of Main Street Waterloo, she points to the new businesses, cultural venues and the River Renaissance project as ways Waterloo is regaining a relevant downtown area.

But it's the 150-plus apartments, plus more developers interested in building lofts and condos, she said really indicates a healthy and growing downtown.

"It's part of a national trend. It certainly has caught on," Buschkamp said. "(There is) a need for upscale, edgy housing, and the proximity of these spaces to retail, nightlife and government facilities, and all the walkability that's become such a priority - I believe we're definitely gaining that sort of reputation."

She credits several developers who have begun new projects or are expressing interest in building residential spaces with part of that transformation.

One of those developers is Nelson Properties, also known as Midtown Development, owned and managed by Vern Nelson Sr., Donna Nelson and Vern Nelson III. They own several parcels in downtown Waterloo, mostly due to a seven-year tax abatement on downtown properties.

"There (are) a lot of things going on as far as economic things - new businesses, Riverfront Renaissance, the ice arena, the (Dan Gable) wrestling museum," Vern Nelson III said. "Right now is a great time in downtown. A lot of people are wanting to locate here."

Nelson Properties has already built the Winterbottom Lofts, located on Westfield Avenue, which boast 14-foot ceilings and indoor parking. Nine of 12 have already been sold.

"It's a new kind of living for Waterloo," said Vern Nelson Sr.

Other Nelson Properties developments in the works include seven yet-to-be-named apartments for rent in the Black's Building, which will be two-bedroom, two-bath units with living room, kitchen and a balcony. Exterior construction is currently being completed by French's Construction.

"We think downtown represents the face of the city," Donna Nelson said. "If that doesn't look great, people judge you. They judge the whole city by the downtown."

On both sides of the river, developers like the Nelsons and others like Bill Howard, David Deeds and Jim Walsh are moving on downtown residential projects. Buschkamp said condominiums, senior living projects like Bridges and even lofts specifically for artists are either currently under construction or going to begin sometime in the next few years.

Homes from efficiencies to one- and two-bedroom units in a wide range of prices are in high demand.

"There's a need for downtown residential," Buschkamp said.

With more people within walking distance, businesses are taking another look at downtown Waterloo - and so, said Buschkamp, are other cities around the state.

"Our success is being looked at by other communities as something to emulate," she said. "Dare I say, jealous?"

Contact Amie Steffen at (319) 291-1464 or amie.steffen@wcfcourier.com.