Goldenrod Cos., headquartered in Omaha, Neb., has been selected by Iowa State University to lead the design, development, financing and construction of CYTown, a 40-acre multiuse district planned between the Iowa State Center and Jack Trice Stadium, university officials have announced.

“Our goal is to create a vibrant, innovative and financially feasible multiuse district that in turn will generate the necessary resources to reinvest in the Iowa State Center,” ISU athletic director Jamie Pollard said in a prepared statement. “CYTown’s unique location will help attract more visitors to Iowa State University and the Ames’ community, spur economic growth for Central Iowa, and offer new amenities to students, staff, visitors and residents to enjoy year-around.”

ISU will now enter into an initial agreement that provides Goldenrod an exclusive period to perform the necessary research, facilitate studies and develop a financial model. After that process is completed, it is expected Iowa State and Goldenrod will enter into a long-term land use development agreement, pending final approval from the Iowa Board of Regents.

Goldenrod has acquired or successfully developed more than $4.4 billion of commercial real estate throughout the United States since its inception in 2005 and has $2.7 billion in assets under management and manages over 8.5 million square feet of commercial property, according to a release. Goldenrod has served as the master developer for the University of Nebraska’s 2.2-million square foot Innovation Campus, Colorado State University’s South and Foothills Campuses, and developed many projects within Omaha’s transformative Aksarben Village neighborhood.