Work is under way on a redevelopment project that promises to transform the Hawkeye Downs property in southwest Cedar Rapids.
The plan received a boost this week, as the Cedar Rapids City Council voted unanimously – with an abstention from council member Scott Olson, who is a member of the Hawkeye Downs board of directors – to approve a development agreement with Sunline Inc., an entity of Hawkeye Downs owner Roger Cassill, for the $33.8 million redevelopment.
The project includes two main phases. The first phase, incorporating 11 acres, includes a 45,000-square-foot expo center adjacent to the existing Hawkeye Downs Speedway, with suites overlooking the track’s first turn; a 42,000-square-foot flex space building; a new go-kart track on the east side of the property; and a 900-square-foot tech barn for racecar inspections.
The second phase will include an 88-room hotel, a 2,500-square-foot restaurant and a 30,000-square-foot flex building on a total of six acres.
According to council documents, the project is expected to create 32 jobs and maintain six existing jobs.
Construction work on the site is expected to begin this month, with project completion slated for Dec. 1, 2027.
In a Facebook post, the Hawkeye Downs Speedway board of directors clarified that the speedway isn’t directly connected to the project itself, but indicated it was “thrilled” with Mr. Cassill’s plans.
The development agreement, under terms essentially approved by the council in September, also includes a standard incentive from the city, which will provide a 10-year, 50% rebate of increased taxes generated by the project. Based on the investment and estimated post-development value, the project is expected to generate $6.7 million in total taxes over a 10-year period, of which $2.5 million would be rebated back to Sunline Inc.
The project qualifies under the Large Site Master Plan – Economic Development program, and Sunline Inc. has also applied for brownfield/grayfield state tax credits due to the need for fly ash remediation on the site.
Council member Ashley Vanorny hailed the project as “a long time coming, and very exciting.”
“Whether you utilize Hawkeye Downs now or not, this is such an incredible improvement from the streetscape there on Sixth (Street SW),” Ms. Vanorny said.
Plans for improving the Hawkeye Downs property have been suggested several times in the past, but it was always considered an “insurmountable project,” Ms. Vanorny noted.
“This actually fully embraces what the (Hawkeye Downs) track is,” Ms. Vanorny said. “I know that there are a lot of car race car fans here in Iowa, but this actually puts them in the spotlight and allows us to fully embrace it in a really cool way. I know that there are many events that happen out at Hawkeye Downs, but it’s been run down and dilapidated for a long time, and it took somebody with a huge vision and the ability to really get in there and dig in. I’m really grateful to the Cassill family for doing exactly that.”
Mayor Tiffany O’Donnell also credited Sunline Inc. and Mr. Cassill for bringing the project to fruition, in an area that’s long been considered industrially-focused.
“I also want to congratulate the city,” she said. “This is a part of the momentum. This isn’t happening downtown. This is happening outside of downtown. It Is a significant investment by a private investor, a private developer, who sees and believes in our community’s future. So all the credit in the world to the Sunline team, the Cassills and staff for making this happen.”
Councilmember Ann Poe, who served as the executive director at Hawkeye Downs until her departure in 2019, said the current Hawkeye Downs project was “part of the vision” during her tenure.
“These were the things that we wished for and dreamed of for this facility,” she said. “We struggled just to fix a roof in the expo hall, so this is beyond my best wishes and for that area. Thank you to Roger and his family and Landon. This is amazing.”
