Krause subsidiary pays around US $ 8 million for proposed section of USL Des Moines football stadium

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A team working to attract a professional football team in Des Moines bought the land needed to build a club stadium.

According to Polk County land documents filed on December 20, Blackacre Development LLC, a subsidiary of the Krause Group, acquired 7.4 acres of land south of Martin Luther King Jr. Parkway and west of Southwest 14th Street for 7.98 million dollars.

Blackacre acquired land from River Point West, a subsidiary of Sherman Associates, developer of Gray’s Landing. Back in August, Blackacre also bought nearly 4 acres on Southwest 14th Street for $ 2.45 million.

At both venues there will be a planned stadium, a retail and office complex, the cost of which is estimated at $ 95 million.

Kyle Krause, CEO of the Krause Group and owner of the Kum & Go chain store, leads efforts to move the USL club to Des Moines, which is on the league list for expansion teams.

To organize a team, Krause, who owns the local Des Moines threat, needs a stadium.

Master plan showing an offer worth $ 95 million for a football stadium and multi-purpose complex south of downtown Des Moines. (Photo: Invision Architecture / Register-specific)

In November, Krause Group Real Estate unveiled plans to build a venue for the Des Moines stadium. These included a stadium worth $ 60 million, accommodating from 6,000 to 8,000 seats, a street space, a garage for 500 seats and a five-story retail and office building.

More: Plan: Des Moines Professional Football Stadium will be surrounded by shops, restaurants, offices

It is still unknown how the stadium will be financed, although a proposal for partial public financing of the project was received in cold blood. If capital is increased on time, construction can begin in the fall of 2020. The new team will start playing in 2022.

Krause publicly announced plans for the USL team and the stadium at the reception in September.

USL Championship is the major league within the United Football League. This is one level below the Major League Soccer, the highest professional league in the United States and Canada.

Austin Cannon covers the city of Des Moines for Register. Contact him at [email protected] or call 515-284-8398. Your subscription makes such work possible. Sign up today at DesMoinesRegister.com/Deal.

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