City of Fort Dodge To Receive 17 Million Dollar Grant For Corridor Plaza Project
The City of Fort Dodge has been granted provisional funding approval of $17,000,000 through the Iowa Economic Development Authority, for the redevelopment of the Crossroads Mall into Corridor Plaza.
The City’s Corridor Plaza project is one of six projects to receive such funding as part of the Iowa Reinvestment District Program, which is designed to assist communities in developing transformative projects. The City says that, Crossroads Plaza Development, LLC was instrumental in helping the City secure the $17 million in funding which will make this project possible.
The comprehensive project will create a greater appeal for regional and national brands who will bring quality retail goods and services to the region. The addition of a public plaza and pavilion to the District will create a dynamic center of activity for entertainment, dining and shopping. The city expects that the redevelopment of Crossroads Mall into Corridor Plaza will be a catalyst for continued economic growth.
City of Fort Dodge Chief Development Officer Chad Schaeffer says, “This is an exciting time for Fort Dodge with development occurring throughout the community. This award is just another great example of the collaboration and public – private partnerships that are necessary to drive these types of projects.”
The total cost of redevelopment is estimated at $86,069,758 and is divided into three projects. Project 1 will include retail space and infrastructure improvements; Project 2 will include the Pavillion, outdoor plaza, entertainment venue and infrastructure improvements; and Project 3 will include retail space and a hotel with meeting space.