Replacement of University of Iowa’s fine arts campus to cost over $400 million

The replacement cost for the University of Iowa’s fine arts campus, which was devastated by a 2008 flood, will be $404.9 million, according to the Iowa Board of Regents. Total flood damage from the flood is expected to top $1 billion at the Iowa City campus.
March 28, 2012

The replacement cost for the University of Iowa’s fine arts campus, which was devastated by a 2008 flood, will be $404.9 million, according to the Iowa Board of Regents. Total flood damage from the flood is expected to top $1 billion at the Iowa City campus.

The fine arts campus requires a new auditorium, art building, and music facility. Nearly $267 million of Federal Emergency Management Agency funding should cover about 65% of the replacement costs for the three fine arts buildings. The projects will also be paid for with flood insurance proceeds, revenue bond proceeds, university gifts and earnings, and university building renewal funds.

The new multi-use auditorium will seat 1,800 people, about 700 fewer than the existing facility. It will be sited 2 feet above the 500-year flood plain, and will be further protected from flooding by a new system of roads. The lobby will feature a floor-to-ceiling view of the Iowa River and the campus.
(http://www.indystar.com/article/D2/20120316/NEWS02/303160036/University-Iowa-arts-facilities-expected-cost-405-million?odyssey=nav|head)

About the Author

Drew Ballensky

Drew Ballensky is general manager of Duro-Last Roofing, Inc.’s central U.S. facility in Iowa and company spokesman for Duro-Last’s cool roofing, sustainability and architectural education programs. He is past-president of the Chemical Fabrics and Film Association and chairman of CFFA’s Vinyl Roofing Division. Drew earned his bachelor’s degree in industrial technology from the University of Northern Iowa and master’s degree in business administration from Florida State University. Drew has over 29 years experience in business and industry in various engineering and managerial capacities. He has worked in the U.S. and Canadian operations for a major international manufacturer of pre-engineered steel buildings, was a financial analyst with a major athletic apparel manufacturer and was an owner of a general contracting company.
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