CyTown Receives Key Approval from Board of Regents
In a groundbreaking decision, the Board of Regents has granted approval for Iowa State University to proceed with a 30-year development agreement with Goldenrod Companies. This pivotal move sets the stage for the development of eight new buildings within the CyTown development zone, marking a significant step forward for the university and the surrounding community.
What Does This Mean for CyTown?
The development agreement with Goldenrod Companies will bring about the construction of a variety of buildings that will cater to different needs within CyTown. From retail spaces to food and beverage vendors, offices, an outdoor music venue, and even a 250-key hotel and conference center, the landscape of CyTown is set to undergo a remarkable transformation. With an estimated construction cost ranging from $175 to $225 million, this development is poised to make a lasting impact on the area.
Key Players in CyTown Development
Regent Christine Hensley has recommended that Goldenrod Companies collaborate with Heart of America Group, a prominent Iowa-based hospitality and real estate company. This partnership has the potential to bring a wealth of expertise and experience to the table, given Heart of America Group’s extensive portfolio of hotels and restaurants in the Des Moines metro and surrounding regions.
The Road Ahead for CyTown
President Wendy Wintersteen expressed gratitude for the collaborative efforts that have made the CyTown project a reality. With partnerships forged between Iowa State University, the Board of Regents, the City of Ames, and McFarland Clinic, the future of CyTown is looking brighter than ever. As the development takes shape, it is clear that a shared vision and commitment to excellence have been instrumental in bringing this ambitious project to fruition.
As we witness the evolution of CyTown, it serves as a reminder of the power of collaboration and innovation in shaping the future of our communities. The approval granted by the Board of Regents represents a significant milestone in the journey towards a vibrant and thriving CyTown. Let us look forward to the exciting developments that lie ahead and the positive impact they will have on all those who call CyTown home.
