Cedar Rapids City Council Approves Developer's $45 Mil Plan for Terex Site

CEDAR RAPIDS, Iowa - The Cedar Rapids City Council is moving forward with a proposal to rezone the site of the former Terex manufacturing plant.

The move would allow a developer to renovate the site for residential and commercial use.

The Gazette reports the $45 million project would includes up to 160 apartments as well as rooftop gathering areas and open space for possible athletic fields.

Developers hope to attract students from both colleges in the neighborhood known as the College District.

The Iowa Economic Development Authority has already approved tax credits for the project that could total $1 million through its Grayfield and Brownfield Redevelopment Program.

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