Development plans continue to unfold for the former Transamerica property, but some elements seemingly remain in limbo.
Cedar Rapids Prep, a tuition-free public charter school operated by the nonprofit Opportunity Education Network, opened its doors in the fall of 2025, welcoming its first student body of approximately 250 students in sixth and seventh grades. The school also has a waiting list for eighth grade classes, which school leaders have said they hope to offer beginning next fall.
The school plans to add a grade level each year until it reaches its full complement of grades 6-12.
Currently, classes are being held at 4515 N. River Blvd., in renovated spaces in the Edgewood Pointe Towers, the two office buildings that remained standing after the rest of the former Transamerica site’s structures were demolished.
The school offers a full complement of academics, as well as STEM classes and a variety of extracurricular sports and fine arts activities.
Plans have indicated that a groundbreaking ceremony would be held this fall for the school’s permanent facility, on a 19-acre parcel just south of the existing towers. James Troupis, chief of schools for Opportunity Education, said his company is still under contract for the land, but purchase details still need to be finalized before construction can begin.
According to the school’s website, the project is set to include a turf field, gymnasium, theater, student union, and state-of-the-art classrooms.
The school “will be designed to support student interest, allowing students to invest, own and drive their learning,” the website states. “This includes a state-of-the-art Esports center, a competition level robotics space, and various innovative spaces that promote collaboration.”
Updated development plans for the remainder of the property haven’t been disclosed. Realtor Kerry Panozzo, whose company, EOP Development LLC, is listed as the site’s developer of record, could not be reached for updates, and as of mid-November, no construction was evident at the site.
This update is a part of the CBJ’s Newsmakers edition. This year-end wrap-up from the staff of the Corridor Business Journal is a compilation of the year’s most noteworthy articles and projects, as told through stories that appeared in the bi-weekly issues of the CBJ.
Read the accompanying story, published in February of 2025:
Redevelopment projects set to transform former Transamerica site
