This project is well under way — check out the progress as of October 2, 2024:
Governor Kim Reynolds, city officials, builder Conlon Construction and developer David Drown, SIOR, CCIM of GLD Commercial broke ground on the $36 million Cedar Rapids Newbo Loftus mixed-use project.
In the heart of the Newbo neighborhood, the Loftus project involved collaboration among state leaders, private partners and city officials, including Mayor Tiffany O’Donnell and City Manager Jeff Pomeranz.
During Governor Reynolds’ address, she highlighted the state’s contribution of $2 million through the utilization of workforce housing and brownfield tax credits. Cedar Rapids Newbo Loftus project joins other mixed-use developments in the area including Newbo Lofts and Fulton Lofts.
“For decades, the city, development groups, neighborhood stakeholders have worked to revitalize this land,” O’Donnell said. “It’s a perfect illustration of the type of project that we need to continue to move our city forward, enhancing the quality of life for our residents here and continuing the momentum that we have in our core neighborhoods.”
With an estimated November 2025 completion, the Cedar Rapids Newbo Loftus project will revitalize the former Loftus Lumber site at 900 Third Street SE by renewing the main road connecting downtown and the Newbo District.
Cedar Rapids Newbo Loftus project features
- Five-story property
- 186 market-rate apartments
- Living options include studio, one-, two- and three-bedroom units along with two-story lofts
- 14,000 square feet (SF) of first-floor commercial space
- Art walk along 10th Street SE
- Rooftop patio and amenity area
- Within walking distance of NewBo City Market
- Accessible to walking and biking trails
“This site was previously a collection of old, abandoned industrial buildings,” Drown, co-founder and principal of GLD Commercial said. “We are thrilled to bring this exciting development to the Newbo District. Newbo Loftus is designed to enhance the lifestyle of its residents while contributing to the ongoing revitalization of this vibrant community. We look forward to seeing this project come to life and become an integral part of Cedar Rapids.”
For apartment/residential leasing, please contact Colleen O’hare at 319.431.0691.
For commercial leasing, please contact GLD Commercial at 319.731.3400.
Read more in the news:
The Gazette
KCRG
KGAN
KWWL
Corridor Business Journal
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