Earlier in the week, in what could be a possible major development towards the plan of building a casino in Cedar Rapids, the city officials announced that it will open up the redevelopment plan of the 8 acres of land near downtown which was originally reserved for a casino.
The City of Cedar Rapids has designated the land that lies along First Avenue West between First and Third Streets on the edge of both the Kingston Village areas and downtown as “First and First West” by the City of Cedar Rapids.
Given that the location is a highly visible location, for years it has been identified as a key location for development and growth by the city.
The location had previously been set aside for several years as a proposed location for a casino, however, its application for a casino license in Cedar Rapids was denied twice by the Iowa Racing and Gaming Commission, as per reports, the reason for the denial was that there are already too many casinos in the region.
As per reports, The city aims to select a single developer as “Master Developer” for the plot, who will create a vision for the property and in turn augment the city.
According to Jennifer Pratt, Director of Community Development, “We are really keen on having conversations with several potential “Master Developers” to move forward with the plan as this site is something which denotes a very exciting development opportunity for our entire community.”
Jennifer Pratt further said, “We feel really confident that many forward-thinking, visionary developers who will come up with extravagant ideas will be attracted to this site, as we are on the lookout to transform this property.”
As per reports, it is expected of The Master Developer to conduct feasibility studies, develop plans for development on the land, and then gradually help the city host open houses on the plans.