Three historic buildings take next step in new life

Redevelopment of three historic buildings in Cedar Rapids is moving ahead.

Construction on two of the three is slated to begin in September. Those are the Sokol Gymnasium property at 417 Third St. SE in downtown and the Commonwealth Apartments, 1400 Second Ave. SE.

The third building and the oldest among the three is the now-city-owned Knutson Building behind the Police Department on what formerly had been H Street SW and is now called Valor Way SW.

On Tuesday, the City Council launched its property-disposal process, seeking redevelopment proposals for the building.

Development agreements providing incentives for both the Sokol Gymnasium and Commonwealth projects, were also approved by the council.

Developer Charles Jones, who specializes in historic redevelopment projects, has agreed to invest at least $2.5 million into the Sokol project and, in return, will receive a property-tax break projected to equal $300,000 over 10 years.

Jones plans shops, a restaurant, lower-level and rooftop lounges and four high-end apartments in the vacant Sokol building, built in 1908. His development agreement with the city calls for the project to be complete by Aug. 1, 2015.

Developers have secured $722,866 in low-income housing tax credits from the Iowa Finance Authority to renovate the Commonwealth building into 86 senior apartments, according to IFA.

In its agreement with the city, developers Landover Corp. and TWG Development LLC have agreed as an entity Commonwealth Senior Apartments LP to invest $12 million in the Commonwealth property, built in 1925. In return, the city will provide $437,000 in help over 10 years. Local support is expected by IFA. The project is to be complete in December 2015.

Mark Stoffer Hunter, Cedar Rapids historian and a member of the city's Historic Preservation Commission, has said that the Knutson Building, built in 1887, started out as a condensed milk plant,

Last month, Jim Hobart, with Hobart Historical Restoration of Cedar Rapids, said his family's restoration business is interested in redeveloping both the vacant, city-owned Knutson Building and the vacant, county-owned Mott Building nearby. Both had been eyed for demolition in the 1990s.

Hobart said he envisioned the two-story Knutson Building becoming market-rate apartments with the possibility of some office or commercial area on the first floor. He said the basement, which in recent years has been a salvage yard office and a bar, could serve as a concession area and restroom facility to support the city's riverfront amphitheater next door.