A developer is interested in turning the structure on Pearl Street into office space, which would include the demolition of the southern portion where the press and dock area were located, said Don Gross, director of the Community Development Department.
The outside façade would also be removed, he said.
The Pottawattamie County Development Corporation and J Development Corporation are in the process of securing federal government funds to help in the renovation that would cost a total of $2.6 million.
New market tax credits, a $750,000 loan request from the U.S. Department of Housing and Urban Development and other sources are being sought, Gross said.
It could take as long as three months to learn if these requests will be approved, he said. If the requests aren't approved, other funding sources would have to be sought, he said.
Last edited by icejammer on Fri May 25, 2007 12:53 pm, edited 1 time in total.
"Destiny is not a matter of chance, it is a matter of choice; it is not a thing to be waited for, it is a thing to be achieved."
He declined to say what bank company is interested in the building at 117 Pearl St. Omaha-based J Development Co. would be the project's developer, Norman said.
Renovation could begin as early as this fall, he said.
The developer would take off the Pearl Street façade to showcase the building's original exterior, Norman said. The south side of the structure, which was built later than the north side, and where the newspaper's printing presses were located, would be torn down to create a parking lot and a drive-through window area, Norman said.
The renovation is estimated to cost $2,632,000. Funding sources include a $750,000 federal loan, $898,644 in Historic and New Market tax credits, $580,000 in loans from the Pottawattamie County Development Corp., $200,000 in developer equity and a $200,000 loan from the city's Historic Property Rehabilitation program. In addition, a tax increment finance rebate is proposed in the amount of $300,000.
"Destiny is not a matter of chance, it is a matter of choice; it is not a thing to be waited for, it is a thing to be achieved."
Daily Nonpareil wrote:In other action, the council Monday night voted to authorize Hanafan to finalize a development agreement with the firm that wants to renovate the former Daily Nonpareil building at 117 Pearl St.
The Omaha-based J Development Co. is considering the building's use to be the home of a new bank.
The redevelopment costs, including acquisition, are estimated at $2,632,300. The agreement calls for city assistance in the amount of $200,000 from its Historic Property Rehabilitation Program and $300,000 in tax increment finance rebates.
Other funds are coming from federal, state, and county sources, along with developer equity.
Plans for the building would include demolition of the southern portion to allow room for parking and a drive-through section of the bank. The façade on the Pearl Street side of the building would be removed to show the structure's original exterior.
Construction could start this year.
"Destiny is not a matter of chance, it is a matter of choice; it is not a thing to be waited for, it is a thing to be achieved."
Well, 11 months later, it is now official! Â This will be a great look for downtown CB...
This architect’s rendition shows the new look of Council Bluffs Savings Bank at 117 Pearl St. The facade placed on the original 1926 structure during the 1960s will be replaced and the south end of the building demolished to make room for parking, a drive-thru and an urban wall that will allow for public art projects.
The renovated building will have approximately 11,400 square feet plus a basement. There will be two drive-thru lanes and a drive-up ATM machine. . .
Mayor Tom Hanafan, said he walked around Bayliss Park on Thursday and was amazed by the transition that has taken place in downtown and what it will mean when the old Nonpareil building reopens.
"The whole downtown area has become kind of a blend of the new and the old, preserving that history that we had," he said. "It's a great opportunity for the community." . . .
"Destiny is not a matter of chance, it is a matter of choice; it is not a thing to be waited for, it is a thing to be achieved."
Big E wrote:Yay! Demolition for parking! Progress!
-Big E
Now, now, now, let's not get too cynical here, at least the parking here will not be out in the wide open, they'll be screened from street view - I don't think the 3 or 4 street spots would suffice for the bank's parking needs. Â The demolition of the 60's era facade and change back to something more along the historical look should be applauded...
"Destiny is not a matter of chance, it is a matter of choice; it is not a thing to be waited for, it is a thing to be achieved."
Yeah, that was mostly sarcasm. Â Removing the facade I'm all for. Â I really have no idea what they were demolishing... although you're going to be hard pressed to convince me that demolition for surface parking is ever a good thing.
The portion of the building being demo'ed is the loading dock area, I believe, which isn't too useful to the bank. Â With the parking coupled with the drive-thru and public art, it should be an improvement over what's there, plus provide a visual lane of connection between the library to the east and Bayliss Park to the west. Â Here's a glimpse of the facade they are removing.
"Destiny is not a matter of chance, it is a matter of choice; it is not a thing to be waited for, it is a thing to be achieved."
Here are a couple of shots of the rear and front of the old Nonpareil building. Â In the first pic, the smaller building part in the left part of the picture has been demolished in the past week, other than what's still attached to the front facade. Â In the second pic, the facade to the far right has started to be removed. Â You can get an idea of what they're restoring from the rear view pic, where the original building is in the right half of the pic.
"Destiny is not a matter of chance, it is a matter of choice; it is not a thing to be waited for, it is a thing to be achieved."
The Western Iowa Mutual Insurance Association is considered one of the five oldest companies in Council Bluffs and has been in the downtown area since 1876 - for many years at 127 Pearl St.
Through the efforts of the Council Bluffs Area Chamber of Commerce and the Pottawattamie County Development Corp., it plans to stay there for a long time to come. . . .
When the concrete block wall came down late last year, it exposed the brick wall of the insurance company. This wall was only three brick layers thick.
"It's not an outside wall that would be sound to the weather over a period of time," said company president John Paul. "It wasn't what you would call an exterior wall." . . .
"Destiny is not a matter of chance, it is a matter of choice; it is not a thing to be waited for, it is a thing to be achieved."
Looks like the main exterior work is just about all done, looking really sharp. Â Looks like they still have quite a little work around the side and back of building, but this is really going to add to the look of the area around Bayliss Park.
"Destiny is not a matter of chance, it is a matter of choice; it is not a thing to be waited for, it is a thing to be achieved."
The former Nonpareil building at 117 Pearl St. has undergone a $2.6 million restoration and is almost ready to reopen as Council Bluffs Savings Bank. Wednesday is the target date for the opening. . . .
The interior space, which now encompasses 11,400 square feet plus the basement, was reconfigured and given a historical theme.
"We tried to design the offices and other rooms within the load-bearing walls that remained in the building," Gronstal said. "With the historic building, we thought it would be more appropriate to have the historic look - the paneled walls, the caged tellers."
Major changes were also made on the exterior. The 1960s-era façade was removed from the front of the building and the original brick walls were repaired and reconditioned. The section on the south end, added in 1963, was torn down to make room for the drive-thru lanes, ATM and parking lot, and an entryway with elevator was installed. Windows throughout the building were replaced. . . .
"We were looking for a downtown presence, and this building gave us an opportunity to be downtown, gave us a lot of space to grow and gave us a chance to clean up an old building and revitalize downtown," he said. "Being close to Broadway, close to the courthouse, the new library, the post office - we're right in the heart of downtown." . . .
"Destiny is not a matter of chance, it is a matter of choice; it is not a thing to be waited for, it is a thing to be achieved."
