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CEDAR RAPIDS | One Park Place | 28 FLOORS

It's nice to see all these proposals in Des Moines and Cedar Rapids, growing up in Iowa, it always seems like it was such a place where new things just didn't happen.

Yeah, that's defintely changed in Des Moines, Iowa City and Cedar Rapids. All are 3 are hanging near the top in the midwest economically.

Nice to see something happening in Cedar Rapids....Always liked that town!

Cedar Rapids to enter negotiations for One Park Place incentives

Dec. 6th, 2016

Quote:

CEDAR RAPIDS — Cedar Rapids City Council unanimously has authorized city officials to negotiate public incentives for what would be the tallest building in the city.

During a meeting on Tuesday, city staff presented the framework for a possible development agreement between the city and Jesse Allen, the developer behind One Park Place, a 28-story, $103 million high rise proposed on Third Avenue SE.

“This is a fantastic addition to the downtown and the city, if we can make it happen,” City Council member Scott Olson. “I just want to make sure, as we look at these final pieces, we feel confident in what may occur.”

Allen initially had sought $23 million up front for his project, which would include a grocery store, hotel, parking ramp, condos, apartments and a rooftop restaurant. But negotiations are moving forward with no public money up front.

Formal negotiations should begin after a six-month financial review by the National Development Council, a third-party consultant. That review, released on Nov. 21, called the project financially feasible but also identified a $20.5 million gap where public money was needed.

http://www.thegazette.com/storyimage...H=500&MaxW=798

One Park Place misses deadline, city eyes new opportunities

Quote:

CEDAR RAPIDS — An Iowa City developer who proposed building a high rise that would have changed the Cedar Rapids skyline acknowledged he did not meet Monday’s city imposed deadline to proceed.

Jesse Allen, the developer behind One Park Place, said a week ago his project was ready to go, but a hotel commitment fell through dealing a “last minute blow” the project could not overcome.

One Park Place officials had the winning proposal among three in May 2016 to develop the last piece of city owned prime real estate in the downtown grid. Allen’s vision for a 28-story, $103 million tower with a grocer, hotel, rooftop restaurant, condos, apartments and parking ramp created a buzz through City Hall and the downtown.

http://www.thegazette.com/storyimage...1400&MaxW=1596