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CEDAR RAPIDS — Construction on a new headquarters for Collins Community Credit Union likely will wrap toward the end of June 2020.
The three-story structure, at 1005 Blairs Ferry Rd. NE, across from Target, had been slated for completion around the beginning of spring of next year.
The construction schedule got set slightly back due to cold weather, said John Lewis, the credit union's vice president of information technology and facilities.
Most of the structural steel for the new headquarters is up, and workers have finished the elevator shafts and one of the three planned stairwells, he said.
The credit union's new headquarters will become part of the Northtowne Market development, a $70 million redevelopment initiative on 35 acres that had been occupied mostly by the Nash Finch food company's distribution center.
Once complete, an initial 150 or so full-time Collins Community Credit Union employees will begin working in the new headquarters, a figure the credit union expects to grow to around 330 full-time employees over a 10-year period, Lewis said.
Hunter Companies and Ambrose Development are handling the project.
Lewis said the headquarters is on budget around $25 million, a figure that includes land acquisition and construction costs, and the building will take up 101,000 square feet, about 9,500 of which is available for lease as retail space.
Gerry Ambrose, owner of leasing agent Ambrose and Associates Realtors, said the retail space could be used for one or two larger restaurants or broken up into four or five retail spaces.
'At this point, if we had someone that wanted that space, and we could get the parking lot and everything all in by late fall ...
I would guess that that's a possibility,' Ambrose said.
Lewis said 'a number of tenants' had expressed interest in the space but none had signed leases to date.
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