Construction will begin in September on the NewBo City Market, after supporters tonight announced the fundraising campaign had reached nearly halfway to its goal.
The Cedar Rapids City Market board kicked off the Growing Cedar Rapids capital fundraising campaign tonight, June 29, 2011, at Water Tower Place, 900 Second St. SE.
“If you help us build it, they will come,” Board President Sarah Ordover told a crowd of about 250 potential donors. “People are hungry for it to be built, literally and figuratively.”
Board member Scott Byers said the $3 million campaign had already received $1.2 million in pledges from community members and corporate donors, enabling construction to begin this fall. The cost of the entire project is $4.25 million.
Corporate commitments have already been received from 17 donors, including an $800,000 matching challenge grant from The Hall-Perrine Foundation.
The year-round market is expected to open in spring 2012 at the site of the former Quality Chef warehouse, between 11th and 12th avenues along Third Street SE.
Updated building plans for the project were unveiled at the event, showing the 18,000-square-foot former Iowa Steel and Iron warehouse as the site of the market hall.
The design/build team includes Greg Sundberg of Sundberg Design, Kim Schmidt of Vantage Point Architects and PointBuilders. Project for Public Spaces is consulting on the project.
Ordover said 150 vendors are on a list to be part of the market.
Also tonight, the Iowa Legislature was moving toward a deal for the state to fund the Community Attraction & Tourism grant program at $7.3 million for FY ‘12 and $15 million for FY ‘13.
The city of Cedar Rapids is seeking $8 million in those funds for the NewBo City Market and two other building projects: the city Convention Complex and the city library.
Here is the list of business that have committed funds to the Growing Cedar Rapids capital campaign, in addition to the Hall-Perrine Foundation:
· Armstrong Development Company
· Cedar Rapids Bank & Trust
· Cedar Rapids Truck Center
· Collins Community Credit Union
· DC Taylor
· Fleck Sales Company
· Frontier Natural Products Co-op
· Highway Equipment Company
· Simmons Perrine Moyer Bergman PLC
· Skogman Homes
· St. Luke’s Hospital
· TCS Consulting
· Thorland Company
· TrueNorth Companies
· Wells Fargo Bank