In June 2021, Corridor Plaza was named one of six Reinvestment Districts in Iowa to receive provisional funding from the Iowa Economic Development Authority (IEDA). The last step to receiving $17 million in funding was completed last week with the final application submission.

Of the six projects selected by IEDA, Fort Dodge received the highest percentage of requested funding. The initial application outlined a request for $18 million. The provisionally approved $17 million has been allocated to support three projects: $2 million will be directed to financing Project 1, $14 million directed to Project 2, and $1 million directed to Project 3. All three projects will be executed in a phased approach to minimize disruption to traffic, tenants and patrons.

“The project phasing is intentional,” said BJ Stokesbary, spokesperson for the Corridor Plaza development team. “It wouldn’t make sense to go in and tear everything out at once. We want to keep access open to the businesses in the project site that are relocating, like Hacienda Vieja and Shoe Sensation, or recently opened, like UnityPoint.”

Project 1 — $2 million for mall redevelopment, infrastructure

Project 1 will include retail space and infrastructure improvements. The Crossroads Mall redevelopment will be the first project in the phased buildout within the Corridor Plaza District. It will consist of 75,155 square feet of retail space, along with infrastructure improvements.

This will be the central shopping and eating establishment component of the project. The retail space is a complete redevelopment of a portion of the east wing of the old Crossroads Mall. While the interior and exterior of this space will be completely redone, there are cost savings in utilizing some of the existing structure, which will result in reduced rental rates for tenants.

“Utilizing as much of the existing mall structure as possible has been a goal of ours from the beginning,” said Stokesbary. “This is the area we’re hoping to see a ton of announcements for in 2022 as we’re able to release names of retailers and restaurants.”

Project 1 is currently in progress with plans to continue through the rest of 2022.

Project 2 — $14 million for indoor/outdoor event space, infrastructure

Project 2 will include the pavilion, outdoor plaza, entertainment venue, and infrastructure improvements. Project 2 will consist of approximately 5,000 square feet of retail space, 54,000 square feet of pavilion indoor event space and 15,000 square feet of an outdoor plaza with a stage.

The pavilion will be the central piece that will hold approximately 500 people for large gatherings or events, including sports, music, arts and crafts festivals, weddings, and other entertainment. On the south side of the pavilion there will be a few eateries patrons can easily access as they walk along the plaza. The outdoor plaza, potentially including a splash pad, will be a family-friendly venue for a variety of activities. There will be easy access to parking and proximity to Projects 1 and 3.

Project 3 — $1 million for retail, hotel, meeting space, infrastructure

Project 3 will include retail space and a hotel with meeting space. The hotel with breakout meeting space facilities, retail and infrastructure will be phased in after Project 2 has begun. Project 3 will be constructed in multiple phases, beginning in late 2022 with an anticipated completion by 2027.

Project 3 consists of 94,000 square feet of retail space with the first phase commencing with 36,000 square feet of entertainment space for year-round activities. An 85-room hotel is planned with meeting space including breakout rooms. Other proposed amenities will include retail buildings, a convenience store, parking, and walkways connecting to Projects 1 and 2.

Corridor Plaza’s goal is to create a vibrant, walkable retail and entertainment destination. More specific information about each project can be found in the full application document on the IEDA website.

“Without the Reinvestment District funding, this project wouldn’t be possible” said Stokesbary. ‘The vision and leadership Fort Dodge has shown in their support of this project and seeking this funding has been incredible.”

Other projects selected by IEDA for Reinvestment District funding include Ames, Cedar Rapids, Des Moines — Capital City, Des Moines — Merle Hay Campus, and Newton. For more information about the Iowa Reinvestment Districts please visit https://www.iowaeda.com/reinvestment-districts/.