RuffaloCODY Project Will Kick Off New SW Cedar Rapids Development
By George Ford, Reporter
CEDAR RAPIDS, Iowa - A new 91,831-square-foot corporate headquarters for RuffaloCODY will kick off development of a 53-acre business and commercial development southeast of Kirkwood Community College.
Frantz-Hobart Community Investors of Cedar Rapids will develop the building at 1025 Kirkwood Parkway SW and lease it to RuffaloCODY. Completion is projected for May 2014.
RuffaloCODY, which recently marked its 22nd anniversary, will house about 250 full-time employees in the two-story building, consolidating staff from three Cedar Rapids locations. Duane Jasper, RuffaloCODY president and CEO, said the building will have space to accommodate growth to 400 full-time employees by 2018.
"Bringing our staff together under one roof and unifying them will be very important to us as we move forward," Jasper said. "We know there's enough room to expand the building in the future and provide additional parking spaces."
RuffaloCODY provides fundraising and enrollment management services and software for colleges, universities and not-for-profit organizations. The company will turn over its existing building on the Kirkwood campus to the community college when its new facility is completed.
Mike Frantz, a principal with Frantz-Hobart, said his company plans to develop additional buildings surrounding RuffaloCODY, which will occupy 15 acres at the corner of C Street SW and Kirkwood Parkway SW.
"We want to make it very complementary to the RuffaoCODY building, probably office and also perhaps something fun like a restaurant and bar," Frantz said. "We've also talked about something entertaining for the Kirkwood students like a bowling alley.
"We're looking at the entire area and we want to collaborate with Kirkwood, RuffaloCODY and the city to make certain that we optimize this area."
Frantz said his company already has had inquiries regarding additional development.
"We think that with the RuffaloCODY building starting, we're going to see a lot more excitement and enthusiasm," Frantz said. "When we go into towns and start to re-purpose historic properties, it's amazing how the momentum is palpable and builds very quickly.
"We think this corner is going to grow very quickly as a result of the RuffaloCODY building going up."
The Cedar Rapids City Council has granted a tax break to RuffaloCODY that will save the company an estimated $1.034 million in local property taxes over 10 years or about 44 percent of the total of the property-tax revenue that will be generated as a result of the construction of the office building.
RuffaloCODY also obtained $450,000 of direct financial assistance through Iowa's High Quality Jobs Program and $570,000 in tax credits through the Iowa Economic Development Authority.