A new one-of-a-kind facility is beginning construction in Coralville’s Iowa River Landing. The Iowa Arena, which kicks off $190 million of new River Landing developments, is set to become a regional sports destination. Here’s what to expect – and what the new development means for you.
About the Iowa Arena
Iowa Arena is owned by ArenaCo. Spectra, which also manages the Wells Fargo Arena in Des Moines, manages the venue and handles bookings, ticket sales and game day operations.
The University of Iowa women’s volleyball team is planning to play there, as will the University of Iowa Club Hockey Team and the Iowa City and Coralville youth hockey teams. Arena management is also looking at collaborating with the U.S. Hockey League or the East Coast Hockey League. The arena will host a full-size sheet of ice and is flexible enough to house many other sports. It’s also a perfect fit for concerts and other special events like graduation ceremonies, helping relieve Carver-Hawkeye Arena’s jam-packed schedule.
Other Options On-Site
The facility will host a fieldhouse with five basketball courts and a turf space, increasing the arena’s flexibility. The Iowa Fitness & Sports Performance Institute will provide training and connect athletes with state-of-the-art medical and orthopedic care. A multi-story building on the arena’s north end will host mixed-use retail, as well as the Johnson County Historical Society, the Hawkeye Model Road Club and the Antique Car Museum.
How You Can Benefit
The arena facility and its surrounding buildings offer a wealth of opportunities for potential commercial real estate investors. Besides the mixed-use retail at the north end of the arena, you’ll also have several other investment options, including:
E. 9th St. and Quarry Road: This three-story structure features 40,000 square feet for indoor parking, 20,000 square feet for retail and 60,000 square feet for condos.
E. 2nd Ave. and E. 9th St.: First-floor retail space is joined by 12 luxury townhomes and 64 condos.
E. 9th St.: East of the building at the corner of E. 9th and E. 2nd Ave., this facility has 14,000 flexible square feet of commercial space (some of which is suitable for a restaurant) and 36 condos, plus 40 stalls of underground parking.
A nearby 750-space ramp will provide even more space for patrons to park.