There’s never been a better year for construction projects in Cedar Rapids. City manager Jeff Pomeranz told the Cedar Rapids city council this week that in the 2021-2022 fiscal year, the city issued 13,761 building permits, with an estimated total value of $750 million. “That’s the highest level of building permit activity in the history […]
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There’s never been a better year for construction projects in Cedar Rapids.
City manager Jeff Pomeranz told the Cedar Rapids city council this week that in the 2021-2022 fiscal year, the city issued 13,761 building permits, with an estimated total value of $750 million.
“That’s the highest level of building permit activity in the history of Cedar Rapids,” Mr. Pomeranz said. “It’s very impressive and exciting.”
The city actually issued an estimated 23,000 permits in the 2020-2021 fiscal year, nearly double the 2021-2022 figure, but most of those permits were issued for repair and reconstruction projects related to the August 2020 derecho that devastated the city.
Conversely, he said many of the Cedar Rapids building permits for the more recent fiscal year were not derecho-related, but were for expansions, homeowner property improvements and new business developments.
“Our city government, city staff, our development community and the investors in our city have come together and are making some very substantial investments in today as well as the future of Cedar Rapids,” Mr. Pomeranz said, adding that city finance director Casey Drew will likely be “very pleased, because long-term, that’ll be tax dollars to the city of Cedar Rapids that will benefit the entire community. The investments are working, the policies of the city council are working, and we’re going to see those benefits regarding the quality of life of our city.”
Several large-scale commercial developments have recently been announced or are already underway. In June, the council approved a resolution for a project term sheet and sponsorship of a financial assistance application for a new $140.6 million, 400,000-square-foot Sub-Zero light manufacturing facility in southwest Cedar Rapids that’s expected to bring nearly 200 new jobs to the Corridor. The Iowa Economic Development Authority has unanimously approved a financial incentive package for the project, and a full development agreement is expected to be presented to the council at an upcoming meeting.
Other projects slated for completion later this year include a $108.6 million FedEx warehouse and distribution center near the Eastern Iowa Airport in southwest Cedar Rapids, which will bring an estimated 480 jobs to the area; a $20 million Alro Steel office, warehouse and distribution facility in southwest Cedar Rapids that will bring an estimated 40 new jobs to the market; and BAE Systems’ new 278,000-square-foot, $139 million aerospace defense facility under construction in southwest Cedar Rapids. Once completed, that facility will serve as an innovation hub for BAE’s military global positioning system (GPS) business, a key driver for the local economy and a long-term Corridor employment anchor with the potential for continued growth, company officials said.