$17 million for Corridor Plaza OK | News, Sports, Jobs
This illustration shows what one of the future new buildings in Corridor Plaza might look like. The redevelopment of the former Crossroads Mall site received a major boost on Friday when the Iowa Economic Development Authority gave final approval for $17 million in public funding.
The transformation of the former Crossroads Mall site into a development called Corridor Plaza will proceed with the help of $17 million in state funding that received final approval on Friday.
The money will specifically support the creation of indoor and outdoor event spaces and give a boost to the construction of new retail spaces, housing and infrastructure.
“Today’s award will add enhancements to the project, allowing it to come to life more quickly and include equipment that otherwise might not have been made for several years,” said Chad Schaeffer, director of city development.
On Friday, the Iowa Economic Development Authority board gave final approval to the money through Iowa’s District Reinvestment Program.
“The state recognizes the opportunity we saw,” Mayor Matt Bemrich said. “The unanimous approval of the IDEA Board of Directors is a vote of confidence for the City of Fort Dodge.”
This aerial view shows the Corridor Plaza site, viewed from northeast to southwest. First Avenue South is on the right. The UnityPoint Health – Clinic Express building is in the foreground with the remaining portion of the mall building in the background.
Fort Dodge has received a few votes of confidence from the state government in recent years. About two years ago, a $500,000 grant was awarded to help pay for facade improvements in part of downtown. Then, in October 2021, another grant of $500,000 was awarded for further improvements to the downtown facade.
Friday’s vote established Corridor Plaza as a reinvestment district. According to the Iowa Economic Development Authority, the program is designed to help communities develop transformative projects that improve quality of life, create and enhance unique opportunities, and significantly benefit the community, region, and community. the state.
“The Reinvestment District Program puts state sales tax money back into our community, working for our community, supporting the greater area that looks to Fort Dodge for entertainment and shopping,” said Schaeffer.
The city government and site owner, Crossroads Plaza Development LLC, of Ankeny, requested $18 million from the program in February 2021.
In receiving $17 million, the Corridor Plaza project received a higher percentage of its grant application than any other project in the state.
“It’s been a very rigorous process and it should be because it’s a lot of funding,” said BJ Stokesbary, spokesperson for Crossroads Plaza Development LLC.
“We are grateful for the City of Fort Dodge’s commitment to the project,” he added.
The proposed indoor/outdoor recreation area would be on the west side of the mall property, behind a car wash, Central Financial Group and Great Western Bank. It would consist of what has been called the pavilion and the esplanade.
The pavilion would be a building with a handful of spaces at its southern end for restaurants, cafes or breweries. The northern half would have larger open spaces with overhead doors.
The plaza would be an outdoor public space just north of the pavilion. Proposed features include pickleball courts, picnic shelters, and an elevated, partially covered stage. A water feature, such as a fountain, would be nearby.