Xtream Arena
About the Xtream Arena Project
A new arena and athlete training center are part of a project that Coralville, in partnership with the State of Iowa and private investors, is building in the Iowa River Landing (IRL), a 180-acre mixed-use development located on Interstate 80 at Exit 242 (1st Avenue).
Fly-through animation of the new Xtream Arena powered by Mediacom opening in August of 2020 within the Iowa River Landing in Coralville, IA.
Contact Us
-
Kelly Hayworth
City Administrator
City of Coralville
Ph: 319.248.1700
Josh Schamberger
President
Iowa City / Coralville Area Convention and Visitors Bureau
Ph: 319.337.6592
Xtream Arena website
Xtream Arena at a Glance
Location
200 E. 9th Street
(In the Iowa River Landing District on the corner of E 9th Street and E 2nd Avenue).
Seating Capacity
Seating capacity of 5,100
Events
The Xtream Arena will be a multi-purpose facility. A single full-size sheet of ice will support the demands of the University of Iowa Club Hockey Team and the Iowa City-Coralville youth hockey teams. Developers are also targeting a USHL or ECHL collaboration. The Arena will serve the University of Iowa Women’s volleyball team. The facility will have the flexibility to host a number of athletic events and tournaments, from wrestling and basketball to indoor football and soccer, in addition to concerts and special events such as graduation ceremonies.
In addition to the Arena, there will be many other functions in the facility including a fieldhouse large enough for five basketball courts, and a turf space. These spaces will be adjacent to the Iowa Fitness & Sports Performance Institute (see "Other Developments" below), giving athletes access to training and care from medical professionals. The Johnson County Historical Society, Hawkeye Model Railroad Club, and the Antique Car Museums will all have new facilities in the lower level of the Arena facility along with additional mixed-use retail.
The Xtream Arena will be a one-of-a-kind facility in the Midwest to bring in new athletic competitions and tournaments, provide a venue for certain University of Iowa Athletic sports, and alleviate tight scheduling in Carver-Hawkeye Arena. Its unique connection with the Iowa Fitness & Sports Performance Institute, added to the access to first-class health care and orthopedic care, make this facility a sought after and worthwhile investment.
The Big Picture
The creation of the Xtream Arena is the first step towards more than $190 million of new developments in the Iowa River Landing.
Location
200 E. 9th Street
(In the Iowa River Landing District on the corner of E 9th Street and E 2nd Avenue).
Seating Capacity
Seating capacity of 5,100
Events
The Xtream Arena will be a multi-purpose facility. A single full-size sheet of ice will support the demands of the University of Iowa Club Hockey Team and the Iowa City-Coralville youth hockey teams. Developers are also targeting a USHL or ECHL collaboration. The Arena will serve the University of Iowa Women’s volleyball team. The facility will have the flexibility to host a number of athletic events and tournaments, from wrestling and basketball to indoor football and soccer, in addition to concerts and special events such as graduation ceremonies.
In addition to the Arena, there will be many other functions in the facility including a fieldhouse large enough for five basketball courts, and a turf space. These spaces will be adjacent to the Iowa Fitness & Sports Performance Institute (see "Other Developments" below), giving athletes access to training and care from medical professionals. The Johnson County Historical Society, Hawkeye Model Railroad Club, and the Antique Car Museums will all have new facilities in the lower level of the Arena facility along with additional mixed-use retail.
The Xtream Arena will be a one-of-a-kind facility in the Midwest to bring in new athletic competitions and tournaments, provide a venue for certain University of Iowa Athletic sports, and alleviate tight scheduling in Carver-Hawkeye Arena. Its unique connection with the Iowa Fitness & Sports Performance Institute, added to the access to first-class health care and orthopedic care, make this facility a sought after and worthwhile investment.
The Big Picture
The creation of the Xtream Arena is the first step towards more than $190 million of new developments in the Iowa River Landing.
Economic Impact on the District
An analysis by C.H. Johnson Consulting in February 2016 found that the total economic impact of the district will be in excess of $1.4 billion over a 20 year period.
View economic impact analysis (Download PDF)
An analysis by C.H. Johnson Consulting in February 2016 found that the total economic impact of the district will be in excess of $1.4 billion over a 20 year period.
View economic impact analysis (Download PDF)
Project Financing
All debt will have associated, secured payment sources. Arena revenue streams such as Iowa Reinvestment District payments, New Market Tax Credits, and naming rights will be received over multiple years and must be converted to presently-available funds. To do so, the City will issue General Obligation bonds which will be repaid with the future cash flow from the secured payment sources.
The City was awarded $12 million in funding from the Iowa Economic Development Authority’s Reinvestment District program for the project. The City’s investment in this project will be a donation of property. Other elements of the project, with the exception of the parking, will be funded privately through fundraising and/or private financing.
All debt will have associated, secured payment sources. Arena revenue streams such as Iowa Reinvestment District payments, New Market Tax Credits, and naming rights will be received over multiple years and must be converted to presently-available funds. To do so, the City will issue General Obligation bonds which will be repaid with the future cash flow from the secured payment sources.
The City was awarded $12 million in funding from the Iowa Economic Development Authority’s Reinvestment District program for the project. The City’s investment in this project will be a donation of property. Other elements of the project, with the exception of the parking, will be funded privately through fundraising and/or private financing.
Project Timeline
- March 2015: City officials submitted a pre-application requesting $12 million in funding from the Iowa Economic Development Authority's Reinvestment District program for the project.
- May 2015: City officials and partners, including the Iowa City/Coralville Area Convention and Visitors Bureau, presented the project to the Iowa Economic Development Authority (IEDA) board.
- June 2015: The IEDA board gave preliminary approval for more than $9.5 million in funding and invited the City to submit a full application.
- March 2016: City officials submitted a final application for funding from the IEDA.
- June 2016: The IEDA board approved $12 million in funding contingent on final execution of agreements and additional financing documentation.
- 2018: Construction begins, contingent upon reaching project financing goals.
- January 24, 2019: ArenaCo announced the signing of a 10-year marketing partnership agreement with Mediacom Communications Corporation that includes naming rights for the new arena. The new arena will be called Xtream Arena powered by Mediacom.
About ArenaCo
ArenaCo is the non-profit community development corporation formed in 2017 to own and operate Xtream Arena & Fieldhouse.
ArenaCo, which is separate from the City of Coralville and is run by a board of directors, is eligible to apply for grants, tax credits, and other funding not available to cities.
The organization’s revenue sources include various naming rights, tax credits, and philanthropic contributions.
ArenaCo Board of Directors
- Bob Dvorsky, former Iowa State Senator
- Kelly Hayworth, Coralville City Administrator
- Terry Kaeding, retired Coralville Finance Officer
- John Lundell, Mayor of Coralville
- Sara McGlaughlin, retired Coralville Central Elementary School teacher
- Josh Schamberger, President of Iowa City/Coralville Area Convention & Visitors Bureau
- John Weihe, O.D., Coralville Eye Associates
Other Developments in the Iowa River Landing
Iowa Fitness & Sports Performance Institute
The Institute will operate as a one-of-a-kind, state of the art, multi-use facility for athletes of all ages and disciplines. The space will be dedicated to sports science and advanced training metrics in the form of a human performance lab where physical therapists, nutritionists, specialized strength and conditioning coaches, and other industry professionals will lead evaluation and instruction. The Institute will be connected to the Iowa Arena and many athletic/training events will have the ability to share crossover opportunities.
Museum/Retail
This mixed-use, multi-story building on the north end will be adjacent to the Iowa Arena, on the south side of E. 9th Street. This space will dedicate 25,000 square feet each to a permanent home for the Antique Car Museum of Iowa and Johnson County Historical Society Museum, office space, and retail space.
Drury Hotel
This will be the second Drury property in the state of Iowa; the Iowa River Landing location will be a 180-room facility.
Staybridge Suites/Mixed Use
This 120-room hotel property will have a physical connection and walkway to the Iowa Fitness and Sports Performance Institute.
Parking Ramp
Located along E. 2nd Street, a 750-space, three-level ramp will serve Drury Inn guests, University of Iowa Hospital and Clinic patients, and area patrons.
Mixed Use 1
This mixed use, three-story building on the corner of E. 9th Street and Quarry Road will include 40,000 square feet for ground-level indoor parking, 20,000 square feet for retail space, and 60,000 square feet for residential condominiums.
Building C
Located on the corner of E. 2nd Avenue and E. 9th Street, this building will include underground parking, first floor retail space, 12 luxury townhomes for owner occupancy, and 64 urban condominiums available for lease.
Building G
This mixed use, multi-story building will be east of Building C on E. 9th Street. Plans include 40 stalls of underground parking; a first floor with 14,000 square feet of commercial space, part of which could be occupied by a restaurant; and three upper floors offering a combined 36 condos.
Ground Breaking
A ceremonial public ground breaking for the new multi-purpose arena in Coralville took place on May 16, 2018.Informational Open House
An open house was held at the Coralville Public Library on August 18, 2016. Staff from the City of Coralville and the Iowa City/Coralville Area Convention and Visitors Bureau were present to answer questions, and the following were in display: