Business

$25 million Collins Community Credit Union headquarters to open in late June

Building for up to 330 employees will include gym, rooftop studio

A rendering shows what the finished Collins Community Credit Union headquarters will look like at 1005 Blairs Ferry Rd.
A rendering shows what the finished Collins Community Credit Union headquarters will look like at 1005 Blairs Ferry Rd. NE, across from Target in Cedar Rapids. The $25 million project in the Northtowne Market development is scheduled to be finished in late June. (Ambrose Development)

Collins Community Credit Union in August 2018 announced it would build a 101,000-square-foot corporate headquarters.

Estimated around $25 million, including land acquisition and construction, the project has been underway off Blairs Ferry Road NE, across from Target.

Work on the new headquarters is a joint effort among the credit union, Hunter Companies of Cedar Rapids and Ambrose Development of Coralville.

The headquarters will occupy 5.25 acres within the Northtowne Market development, a $70 million initiative on 35 acres that had been occupied mostly by the Nash Finch food company’s distribution center.

Once open, the headquarters will house both the credit union’s branch and retail and office space for co-tenants.

In announcing the headquarters, Stefanie Rupert, the credit union’s president and CEO, said, “As the financial services industry continues to evolve, having a centrally located building will allow our staff to work more efficiently and effectively to serve our membership and the community.”

The building will be a community-focused space for credit union employees and members as well as the community at large, board Chairwoman Marsha Schulte said.

“We hope to provide for members and nonmembers alike and share the credit union vision of ‘people helping people,’ ” she said.

What has happened since?

Collins Community Credit Union now is looking to open the headquarters’ 12,600-square-foot first floor branch, plus its second and third floor office spaces, during the last week of June, said John Lewis, the credit union’s vice president of information technology and facilities.

Construction workers this past week were installing the building’s elevators, finalizing restrooms and completing some floors’ interior walls and carpeting, he said.

“We’re starting at the top and working our way down,” added Lewis, who estimated that 75 percent of construction on the building has been completed.

The project has remained on budget.

“Fortunately, we’ve not been hit with any major overruns or anything like that,” Lewis said.

The headquarters also will feature 9,500 square feet of leasable space. Lewis said as of Wednesday, no leases have been signed, although several prospective tenants have expressed interest.

As it stands, the leasable space could be subdivided among three tenants, including for retail, food service and professional uses, though Lewis noted that allocation was “fluid” and subject to change.

As far as other planned building features, the credit union announced in September the headquarters will feature a gym, rooftop studio, collaborative spaces and gender-inclusive first-floor restrooms.

Once open, the credit union initially will move in about 150 employees — a figure it expects will grow to around 330 full-time employees over a 10-year period.

Comments: (319) 398-8366; thomas.friestad@thegazette.com

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