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Why invest in Polk City? By: Bruce Boland

Bruce Portrait_Cropped

By: Bruce Boland

Chairman, Iowa Growth Investors, Inc.

Chairman, First Continental Group

 

 

 

Why invest in Polk City?

As chairman of Iowa Growth Investors, Inc. (IGII), I have been asked why we have chosen to invest resources and capital in Polk City. IGII’s view of life and business is not always about money and profit (which is contrary to 99.9% of traditional business thought processes). The primary purpose of IGII is to create work and jobs. We accomplish this goal through business turnarounds and project development.

So why invest in Polk City? The most important reason, because IT’S FUN. As part of the Polk City community, we recognize the need to be good citizen-neighbors.  So as we develop our own business interests in Polk City, we strive to bring amenities and services to benefit our community.

We have been willing to take a chance on people in Polk City ~ known as Organic Growth.

What are some of the new developments in and around Polk City, and who is behind it?

Since 2012, IGII has formed or bought into many projects and initiatives in Polk City. When we purchase land or buildings, our goal is always to make improvements that help the town’s appearance as well as help grow our investments. Other various eye sores around the town have been demolished and the space made available for new buildings and homes.

Some of our investments are considered high-risk (such as investing in the Big Creek Technology Campus and the re-visualization of the former Broken Arrow Building), while others are low-risk and not meant for a direct return on investment (such as the refurbished Polk City Square Playground).

What is this new building on the Square?

The “new” building ~ which is actually a refurbishing of the facility formerly known as the “Broken Arrow” ~ is the most visible of our current projects. This new facility will serve as a business hub on the corner of the Polk City Square.

Concept of this new building.

The new structure was conceived as a corner-anchor of the Square, leasing office space to a variety of businesses. The facility will feature private office suites, a reception area, and a centrally-situated shared conference room. The exterior features a large courtyard facing the Square, and will be open to the public.

Why did you knock down the original building?

There have been some questions as to why it was necessary to demolish the old east-facing concrete-block building. The answer is: 1), it was structurally unsound, and 2) it had become a bit of an eyesore.

In keeping the west-facing part of the structure, we hoped to retain a bit of the history of the original structure while creating a new, modern façade facing the Square. There is an old saying: “You can’t make a silk purse out of a sow’s ear.”  However, that is exactly the challenge IGII thrives upon, meaning we take great pride in our ability to improve existing business and to create new business opportunities.

Why is it taking so long?

As we have other initiatives in the works concurrently, it has been necessary to redirect our resources from time to time, slowing the completion of the building. And, we have had to overcome many unforeseen structural obstacles.

How does this affect and benefit Polk City?

In addition to providing much-needed office space for the growing business sector, the facility will add to the city’s tax base, enabling funds for more amenities. The new structure also dovetails with the ongoing larger improvement projects to infrastructure and facilities in and around town.

When will it be occupied?

We are planning to begin leasing spaces in early 2018.

Current Investments in Polk City by IGII:

  • Sender’s Construction
  • Garden Home Subdivision at Wolf Creek (IGII bought a portion of the tract from bankruptcy of previous ownership)
  • Big Creek Technology Campus
  • Polk City Playground Renovation
  • 104 Third Street (Broken Arrow)
  • Additional plans in the works

All these investments have occurred while at the same time, building a well-respected construction company with honest, quality people of whom we are very proud.

 

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Contact Information

Polk City Development Corp
PO Box 212
Polk City, IA 50226
515-210-8442
info@polkcitydevelopment.com

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