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Demolition of Flood Blighted Siegal Property Underway

Demolition of the flood blighted Siegel Jewelry Shop Building purchased by the Cedar Rapids Downtown District has begun at the location of First Street and Third Avenue SE. Estimated completion of the demolition is June 15, according to demolition contractor Dave Zinser.

The January 2009 purchase and current demolition of the former Siegel Property is funded in part by an I-Jobs grant the City of Cedar Rapids received from the state for blighted property acquisition downtown. The City and Downtown District will partner on the ultimate redevelopment of this area.

Temporary surface parking spaces will be installed in the space until a long-term redevelopment plan is complete for the property and potentially for additional properties on that half-block in the heart of downtown. The area also will be aesthetically improved.

The call to action from the Downtown District stems from the strategic redevelopment potential of the property, as well as that the dilapidated condition of the current building was having negative consequences for neighboring businesses and property tax valuations.

The purchase of blighted and strategic property for redevelopment also is one of the Downtown District’s top priorities for 2010, as ranked in surveys by downtown stakeholders. A complete list of strategic priorities for 2010 for the organization can be found at www.downtowncr.org.”