University of Iowa wants to have School of Music downtown

Negotiations aren't complete, but talks are going well enough that University of Iowa officials released more details Thursday about plans to build new School of Music facilities downtown.

“I think there are encouraging signs, but again, nothing has been finalized,” UI Spokesman Tom Moore said.

UI officials had previously stated a desire to replace the flood-damaged School of Music at a downtown site near Burlington and Clinton streets, and received state Board of Regents approval to pursue that option with downtown property owners.

UI leaders will go back to the regents next week, during a June 9 meeting in Vinton, for approval to negotiate purchase terms for the downtown site and to proceed with more project planning.

The plan, at an estimated cost of $125 million, calls for the UI to buy four and a half floors in a planned 12-story mixed-use condominium project to be built by private developers at the southeast corner of Burlington and Clinton streets. That space will house the School of Music program, offices and classrooms, replacing flood-damaged Voxman Music Building.

Across Clinton Street, at the southwest corner of Burlington and Clinton, the UI plans to build auditorium facilities to replace Clapp Recital Hall. Two banks, MidWestOne and Bank of the West, are located at that site. The two UI spaces would be connected by an enclosed sky walk over Clinton Street, according to the UI plans.

Much of the project cost would be paid by the Federal Emergency Management Agency as part of flood recovery.

Charles Funk, president and chief executive officer of MidWestOne, said much of the negotiations with UI officials are essentially complete, but “we're still dotting i's and crossing t's.”

“We've had very good discussions and I think everybody has been upfront and honest about what we need and what they need,” Funk said. “We don't have a signed contract, but again, I think we are certainly moving steadily in that direction.”

A spokesman for Bank of the West did not return a message seeking comment.

Iowa City Mayor Matt Hayek said via e-mail the UI's tentative plans are exciting, and city officials are eager to see how things turn out.

“An investment of this magnitude, combined with a public-private venture that adds commercial and residential space, would make our downtown even more vibrant and would complement the city's goal of redevelopment south of Burlington Street,” he said.