NewBo City Market receives $800k contribution to capital campaign

CEDAR RAPIDS — NewBo City Market has made significant progress toward its capital campaign goal thanks to an $800,000 contribution from the Hall-Perrine Foundation.

The contribution to the nonprofit small business incubator’s Next Level Local campaign, awarded in 2022 but announced Dec. 13 with the foundation’s first installment, brings it closer to its goal of creating more shopkeeper spaces, a grocery store for the New Bohemia neighborhood, a mezzanine and an indoor performance stage.

The lead gift for this campaign brings fundraising to $4.2 million to date, with approximately $600,000 to $800,000 remaining to reach its goal.

“We are actively fundraising and encourage the community to make a gift to support the expansion of our business incubator/community center,” said Julie Parisi, executive director of NewBo City Market.

The market also received a $1.3 million award from the U.S. Economic Development Administration in September.

Construction will begin in early 2025 once a contractor is secured for the project. Shops and programming will remain open throughout construction, and the community is encouraged to continue supporting NewBo City Market’s small business owners through construction.

Comments: Features reporter Elijah Decious can be reached at (319) 398-8340 or elijah.decious@thegazette.com.