SOLD, 35-acres of land on the northwest corner of Wright Brothers Blvd W and Kirkwood Blvd SW. Cedar Rapids City Council recently approved tax incentives for developer Big Ben LLC, an affiliate of Ahmann Companies, for the construction of a $40 million project on this land. The commercial development is expected to offer a mix of residential, retail, and office and service uses, and create 100 new jobs when complete. Big Ben qualified for a 10-year, 50% rebate of increased taxes for commercial uses and 10-year, 100% rebate for residential uses under the city’s Large Site Master Plan – Economic Development Program. Over 10 years, developers can expect to see an estimated $4.6 million rebate of $9.1 million in new taxes generated by the project.
Q4 Real Estate Represented the Buyer on this transaction. Commercial Lots will be available For Sale in late 2021.