A proposed Des Moines USL stadium is being pitched as the anchor of a mixed-use development, surrounded by amenities that include retail and office space, restaurants, and more.
In September, it was announced that an effort is underway to launch a Des Moines USL Championship club backed by an ownership group led by Krause Group Chairman and CEO and Des Moines Menace (USL League Two) owner Kyle Krause. The hope is for the club to begin play in 2022, contingent upon plans for a new stadium moving forward.
Details have emerged on the vision for a new stadium, as developer Blackacre Development is working with prospective team ownership to pitch a mixed-use development on roughly 13 acres south of Martin Luther King Jr. Parkway. A 6,000-to-8,000-seat stadium designed to host professional soccer and other events would anchor the development, which would also include a five-story office and retail building, restaurants, a 500-space parking garage, and street-level plaza. The total cost of the development is estimated at $95 million, including $60 million for the stadium and $35 million for the ancillary amenities.
Blackacre has an agreement in place to buy the land from River Point West, an entity led by a Minneapolis-based developer, with hopes of finalizing the purchase by the end of this year. The proposal is not at all final at this stage, and there are some questions about how funding for the stadium will come together. More from BusinessRecord.com:
The Des Moines Register has reported that the group has asked for up to $30 million from Polk County but that officials balked at the amount.
Matt Anderson, Des Moines assistant city manager, said the group has not requested financial assistance from the city. “We don’t have the ability to do any direct financial assistance,” he said.
The development group also has not asked about economic development grants tied to tax increment financing, he said.
When asked about efforts to raise money for the stadium project, a spokeswoman for the development group wrote that “conversations continue to take place with multiple interested parties, stakeholders and community leaders. We’re hopeful that we’ll be able to move forward as a unified community.”
The site targeted for the project is located on the southern edge of downtown Des Moines. Other economic activity has taken place in the area, as the stadium and surrounding amenities would be adjacent to the Gray’s Landing mixed-use development.
Rendering courtesy INVISION Architecture.
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