Local Developer Proposes 25 Story Highrise

posted by WMT News/KCRG-TV9 - 

CEDAR RAPIDS, Iowa (KCRG-TV9) -- Developer Steve Emerson has proposed a 25-story building to be built in downtown Cedar Rapids near the Paramount Theatre.

Emerson says if developed, the building would have a capital investment of $72.9 million and would have a variety of uses, including many apartments and condos.

The proposed building has a grocery store, Brothers Market, on the first floor as well as an entry lobby and parking access for lower level parking.

The building's second through fourth floors are proposed to be parking and possible medical clinic space and/or residential apartments.

The proposed building would have condo units for sale and parking from the fifth to the 13th floor, as well as condos for sale on the 18th to 25th floor.

Emerson's proposal has plans for a restaurant on the 17th floor and a roof garden on the 19th floor of the building.

The building would also have patios, a bike rack/bike storage and service station, electric car charging stations, and a solar roof.

Community Development Director Jennifer Pratt said the proposal fits in with the city's wanted plans for the space.

"We want to make sure that we have something that activates the pedestrian level, which this proposal does with a grocery store being proposed. We also really like the residential component. It's important to keep building those units and making that urban living available, and it also does address some parking needs in the area," Pratt said. "Having that grocery store really does help us hit that milestone. That we really are this urban housing area. I think also just it captures the imagination because of the height of the building, and really just is another way of showing the growth in our downtown."

The proposed building will be reviewed by a stakeholder panel. Emerson's proposal will then have a recommendation presented to the City Council during their August 28 meeting.

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