The City of Cedar Rapids is building a new convention complex in downtown, which includes the renovation of the U.S. Cellular Center arena and the former Crowne Plaza Five Seasons Hotel. This is one of the City's urban renewal projects. When the complex is completed in spring 2013, it will become the second largest convention and events complex in the state of Iowa.
Naming Rights
Complex: U.S. Cellular signed a 10-year agreement with the City for the naming rights of the Cedar Rapids Convention Complex for a total of $3.8 million. Now the complex will be known as the U.S. Cellular Center.
Hotel: Hilton signed a 15-year agreement with the City for the franchise and management of the hotel. The monthly program fee will be 4 percent of the hotel's gross revenue. Now the hotel will be known as the Doubletree by Hilton at the U.S. Cellular Center.
Economic Impact
According to VenuWorks, the new Cedar Rapids Convention Complex is projected to attract more than 375,000 visitors annually, resulting in $22.8 million of direct spending per year. Total economic impact of the new convention center is estimated to be more than $34 million per year.
Convention Complex Details
The Cedar Rapids Convention Complex includes a new exhibit hall, ballrooms, meeting rooms and pre-function space, plus a renovated events arena and renovated hotel with an additional ballroom and meeting room space. The new complex will be approximately 435,000 square feet, including:
- 129,500 square feet of new convention center space
- 129,400 square feet of renovated arena space
- 176,000 square feet of renovated hotel space
Overall, the complex will feature approximately 72,300 square feet of exhibit space, 13,000 square feet of ballroom space and 21,500 square feet of meeting room space.
In addition, the hotel portion of the project includes a total of 176,000 square feet of renovated space and will feature a full-service, up-scale hotel with approximately 19,500 square feet of additional meeting room space.
Timeline
- March 2011: City takes possession of hotel
- March - July 2011: Demolition of nearby buildings (Armstrong-Race Realty building, Pro-Park parking ramp, First Avenue parking ramp and hotel ballroom)
- April 2011 - November 2012: Hotel renovation
- July 2011: U.S. Cellular Center closed
- August 2011 - November 2012: Arena renovation
- October 2011 - Spring 2013: Construction of new convention center
- Spring 2013: Grand opening of new Cedar Rapids Convention Complex
Funding Sources for Convention Center Construction & Arena Renovation
- US Dept of Commerce EDA Grant = $35 million
- State I-JOBS Grant = $15 million
- The Hall-Perrine Foundation = $2.5 million
- Estimated City Funds = $32.4 million
Funding Sources for Hotel Renovation
- Insurance Settlement from Sinclair Fire = $3 million
- Estimated City Funds = $41.85 million
Funding Source for Parking Ramp Construction
- Estimated City Funds = $11.5 million
Estimated Project Costs
- Land Acquisition, Convention Center Construction and Arena Renovation = $84.9 million
- Land Acquisition and Hotel Renovation = $44.85 million
- Construction of Parking Garage = $10 million
- Construction of Roosevelt Fire Escape Stairway = $1.3 million
- Total Estimated Project Cost = $141 million