Cutting the ribbon on Mason City's newest housing development Within the first month of being open, The River apartments and townhomes has seen a nearly 70% occupancy rate, reflecting a demand for market-rate housing in North Iowa Posted: Jan 22, 2021 12:47 PM Posted By: Alex Jirgens MASON CITY, Iowa - Standing in the shadow of Downtown Mason City is North Iowa's newest housing development. And during Thursday morning's ribbon cutting, those involved with the development says it fits right at home with the overall River City Renaissance project. Talon Development of Sioux Falls planned and constructed the 133-unit River apartment and townhome complex development that sits on the site of a former parking lot just south of Southbridge Mall. President Steve Boote says a lot of research went into how the complex would fit in the area, citing a gap of market-rate housing, or as he terms it, 'workforce housing.'