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.
For more information about this property or other commercial real estate property for sale or lease in the Cedar Rapids Metro area, contact one of our commercial real estate listing agents today!
