See the projects Cedar Rapids wants to support with $39.5M state aid request

The City of Cedar Rapids is requesting $39.5 million in state aid to support 'transformational development' projects it estimates involve over $261 million in investment and that would generate nearly $7 million a year in property taxes.

1. First and First West

Parcels originally assembled for a casino now would become a major development with over 140,000 square feet of commercial space including Big Grove, 207 residential units and roughly 100 hotel rooms.

2. Paramount tower

Plans call for a 25-story tower near the Paramount Theatre, which the city says would be the tallest in town. It would have a grocery store, condos, apartment, retail and office space and rooftop patios.

3. Hotel development

The Heart of America project at the historic Guaranty Bank and World Theater site envisions a Marriott Courtyard and an AC Marriott, with a total of about 200 rooms, with bar, restaurant and retail space.

4. 8th Avenue grounds

Prospective plans call for festival grounds that feature performance space, picnic and playground areas and indoor spaces for retail or restaurants. It would provide connections to the Cedar River Trail.

5. River recreation

The idea calls for expanded recreational use of the Cedar River downtown. It envisions channels for boaters, white-water rafting and a calmer water trail. The 5-in-1 Dam creates major engineering challenges.

6. River public space

The Fourth Avenue Plaza is projected to be a flexible-use outdoor gathering space. It would have a cantilevered observation deck and covered stage and serve as a setting for small performances.

Source: City of Cedar Rapids