116 3rd St SE
Cedar Rapids, Iowa 52401
Former Village Bank site sold to 'new restaurant group'
A new non-profit entity, the Neighborhood Development Corp., is about a year old now, and it came to be with an infusion of $1.5 million in state funds and a mission to help drive the redevelopment of commercial and residential property in the city's older neighborhoods.
Last July, the corporation's local board and its executive director, Carol Bower, purchased the flood-damaged Village Bank & Trust Co. building at 1201 Third St. SE in the New Bohemia district.
At the time, Bower said the corporation's preference was for another bank to buy the building and redevelop it, but she said other options could work as well.
Another option now has worked out.
The former Village Bank & Trust bulding at 1201 Third St. SE in Cedar Rapids, as seen in August 2002. (Jim Slosiarek/The Gazette)
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