The sun was shining in Cedar Rapids Saturday, May 11, as officials gathered outside NewBo City Market to launch the nonprofit business incubator’s $6 million Next Level Local capital campaign, which would add a second floor and various amenities to the building.
“12 years ago the building that now houses NewBo City Market, and its over 20 individually-owned businesses, underwent a massive renovation… The adaptive reuse of the existing structure has paved the way for a successful revitalization of this neighborhood that was devastated by the 2008 flood,” said Julie Parisi, executive director of NewBo City Market, in her speech announcing the campaign. “Looking to the future, it’s time for the market to adapt and grow, to meet the needs of the community around us.”
The expansion project that would be funded by the $6 million capital campaign would add a second floor to the interior of the market’s Rotary Hall. The plan includes balconies for outdoor patio space, a free coworking lounge, a podcast studio, a mental health therapy clinic, a family sanctuary, a food production kitchen, a grocery store and an indoor stage for live events.
NewBo City Market has already raised $3 million for the expansion through grants and corporate gifts. Ms. Parisi listed Cedar Rapids Bank & Trust, ImOn, Ohnward Bank, Transamerica, The Hall Perrine Foundation, Wellmark and the City of Cedar Rapids as supporters of the project.
The project was originally estimated at $3 million, but new floodplain ordinances and more “fancy features” like balconies have raised the cost of construction to around $4 million, according to Ms. Parisi. The other $2 million in the capital campaign goal are for the market’s endowment, operational cost coverage and a “contingency plan for the shopkeepers” that would support the business owners during construction.
“The floodplain presents some challenges, although it’ll actually help us to create a really resilient building,” Ms. Parisi said.
Construction is slated to begin in January of 2025 and finish in the summer. Ms. Parisi said the plan is for around 6 months of construction, with hopes that the building reopens to the public in June or July. Andrew Ballard, with Studio Combine Architecture, is the lead architect working on the project.
Cedar Rapids Mayor Tiffany O’Donnell also spoke at the event. She was once a member of Newbo City Market’s inaugural Board of Directors and said the market’s efforts to support women-owned businesses, and other underserved entrepreneurs, are a “point of personal pride.”
The recently-announced closure of Hy-Vee’s 1556 First Ave. NE location in Cedar Rapids has brought the issue of food deserts to the forefront of local conversation. The USDA characterizes a food desert as a low-income census tract where 33 percent of the population is over a mile from a grocery store in urban areas, or 10 miles in rural areas.
The market’s grocery store will be named The Market Basket and will partner with Feed Iowa First and its farmers. The expansion project will also include a fully-licensed production kitchen on the second floor mezzanine where farmers or food producers can create wholesale food products such as pasta, salsa, or pickles.
There are also plans to open the market seven days per week once the expansion is complete. Currently the market is open Wednesday through Saturday from 10 a.m. to 8 p.m. and Sunday from from 10 a.m. to 4 p.m.
NewBo City Market is accepting donations for the Next Level Local campaign at newbocitymarket.org/next-level-local.
