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Union Arcade
The Union Arcade is an apartment building located in downtown Davenport, Iowa, United States. The building was listed on the National Register of Historic Places by its original name Union Savings Bank and Trust. Originally, the building was built to house a bank and other professional offices. Although it was not the city's largest bank, and it was not in existence all that long, the building is still associated with Davenport's financial prosperity between 1900 and 1930. From 2014 to 2015 the building was renovated into apartments and it is now known as Union Arcade Apartments.
==History==
Union Savings Bank was established in Davenport in 1891. The bank moved to its Brady Street location around the turn of the 20th century. It had previously been the location of Davenport National Bank until Union Savings Bank took it over. The lower level of the present building was completed around 1915 and the upper floors of the building were completed in 1924 according to the designs by Davenport architectural firm Temple & Burrows.
As the bank grew it started to acquire other banks in the city. In the 1920s it merged with Davenport Savings Bank and Scott County Savings Bank and was renamed Union Savings Bank and Trust Company. After the start of the Great Depression many banks failed or were severely weakened. One of those banks was First National Bank, which Union Savings Bank and Trust took over before the Bank Holiday in 1933. The other Davenport banks who survived up to this time included: American Commercial and Savings Bank, Bechtel Trust Company, Northwest Davenport Savings Bank, and Home Savings Bank.〔Svendsen, 5-5.〕 The bank, however, was not one of the banks to emerge after the Bank Holiday. By the 1960s the banking room on the main floor of the building was converted into retail space.〔 Professional offices occupied the upper floors.
Rodney Blackwell of Financial District Properties bought the Union Arcade in late 2013 for $1.65 million. In March 2014 a renovation project began to turn the building into 68 market-rate apartments with commercial space on the main level. The $16.65 million project was completed in May 2015. Three of the apartments are lofts and the rest are studios and one- and two-bedroom units. The mezzanine was converted into a resident lounge and a laundry room. The building's original marble floors were retained in the common areas, and the mail chute and historic doors were left in place for appearances.
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