Principal Riverwalk – What $75 Million Will Get You
Announced in July 2004, as part of one of downtown’s largest employer’s 125th anniversary celebration, the Principal Riverwalk would be one of the largest downtown transformations that the city has seen. It’s now more than four years later and I thought it would be appropriate for an overview of what was planned and what has been delivered since then.
With an opening cost projection of around $26 million, a ground breaking ceremony for Phase I took place on July 22nd, 2004. Principal would originally donate $10 million with the rest to be raised through community, civic and state monies. At that time, it was purposed that later phases may incorporate a half million dollar skate park and white water rapids courses.
By March 2005, costs estimates were more than double, now a total cost was being estimated around $55 million due to some additions to the original plan such as upgrading the Meredith Trail connector to Gray’s Lake and upgrading Principal Park to include a plaza with fountains right outside the park. Also the Hansen Company Triangle was being added to the mix.
By end of 2006, cost estimates were now totaling close to $74 million almost three times what the original cost estimate was in 2004. As 2006 drew to close, five projects had been completed totaling $15 million. The Brenton Skating Plaza, cost $4.5 million, more than double the original estimate. The Union Railroad Bridge that opened in July cost $4.5 million – $2 million more than expected.
The largest aspect of the Riverwalk project yet to be completed is the Center Street pedestrian bridge. Construction began on the site Aug. 15, with an expected completion date of late next year.
The bridge will be 400 feet long and feature 100-foot-tall arches. This bridge will be much bigger than the blue arched bridge on Interstate 235, which is only 280 feet long.
The Center Street Bridge originally was sited directly above the Center Street Dam, but will be built slightly upstream instead. The shift will make construction simpler and allow better access for any future work on the dam. It also cuts costs by shortening the span.
All riverwalk projects for Phase I should be completed by year-end 2009. I can’t wait to see it all done. This will make downtown living even more appealing.
Posted under Living Downtown
Tags: Riverwalk | Sculpture | Tours | Urban Gardens
It looks like over the last few weeks construction has really started up on the new Wellmark Blue Cross Blue Shield company headquarters building. As a downtown resident this brings hope and anticipation with new construction that continues to bring vitalization to our downtown, but the same time begs the question what’s going to happen to all the current leased spaces that these companies occupied? With Wellmark moving out of the Ruan and Davis Brown Law Firm moving out of the Financial Center, who will move to occupy those large spaces?
