Construction has begun on Bowling Street Flex-Space, a 77,000-square-foot, two-building office and upscale warehouse project at 4700 Bowling St. SW in Cedar Rapids.
Bart Woods, president of Primus Construction in Cedar Rapids, expects to have the buildings ready for tenants by late summer.
"These buildings reflect a high standard for both the design and materials," Woods said. "Construction will include tilt-up concrete walls, architectural metal siding, and an extensive amount of glass for both entries and windows."
Adam Gibbs, vice president of GLD Commercial, said the buildings will offer close proximity to Highway 30 and Interstate 380, multiple docks, overhead doors, office and warehouse space with a "clear height" of 24 feet.
The 6.3-acre parcel of land was purchased from The Gazette Co. for $575,000. The developers received an urban revitalization tax exemption from the Cedar Rapids City Council worth an estimated $480,000.
The financial incentive was based on a minimum investment of $4.7 million and creation of 77 jobs. The tax break was approved over the objection of other developers, who contended the project will harm the viability of their existing warehouses.
Realtor Dave Drown, who represented the project developer, said that the project will provide new upscale warehouse space that is not available in the Cedar Rapids market. Drown said the extra cost to build the higher quality project required the property-tax breaks or the project would not get built.