116 3rd St SE
Cedar Rapids, Iowa 52401
The Denver, Colo.-based company overseeing the $90 million redevelopment of Westdale in southwest Cedar Rapids is projecting a surge of construction activity next year.
'Based on what we're working on right now, we could be looking at nine or perhaps 12 buildings under construction or remodeling next year,” said Lisa Rowe, vice president retail at Frew Development Group and Westdale general manager.
'We have a lot of stuff for delivery to tenants in July and August of next year. There's going to be a lot of construction activity,” in spring 2017, including the new Tru by Hilton hotel, Rowe said.
Frew Development is very close to signing leases with retailers for spaces of 10,000 square feet, 18,000 square feet and 22,000 square feet.
'Leases with two retailers for the lower level of the former Von Maur building are moving forward,” she said. 'We need a second signature for the larger of the two retailers, and we should be able to get that on Monday.
'We're down to final lease negotiations with a national pet store chain. That's moved along pretty quickly.”
Rowe said the foundation for the 82-room Tru by Hilton hotel may be completed yet this year, with construction on the 40,000-square-foot four-story structure starting in the spring.
'We had to incorporate some city comments and resubmit plans for the footings,” she said. 'It's part of the normal process to get building permits.”
Frew Development is close to signing a purchase/sale agreement for lots next to First Federal Community Credit Union's planned branch at the Williams Boulevard SW entrance to Westdale. A retailer will be relocating to the site from within the community, but Rowe declined to provide additional details.
'We're close enough on the leases for the Von Maur building that we've authorized remodeling work to begin,” she said. 'We also should have two more LOIs (letters of intent) coming our way in the next couple of weeks.”
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