The National Cattle Congress property in Waterloo will undergo a makeover as part of a partnership announced this week between the National Congress and CBRE.

The plan is to modernize the more than 50-acre site and redevelop the existing fairgrounds and facilities, as well as build new amenities to drive economic activity in the region.

Mike Macri III, vice president with CBRE, said the partnership between CBRE and the National Cattle Congress is the result of conversations that “began quite some time ago regarding what could happen with the National Cattle Congress site in Waterloo.”

“It’s a historic site,” he told the Business Record. “It’s been a staple of the community for nearly 100 years, and our partnership between CBRE and the National Cattle Congress really comes down to taking that historic memory and the feelings of what the Cattle Congress has been and trying to not only modernize it but also increase the viability of what the site can bring to the community and to the economic benefits that help support the Cattle Congress and their mission of educating people on agriculture and how we can expand that vision.”

The National Cattle Congress grounds is at 257 Ansborough Ave., near the U.S. Highway 218 and Ansborough Avenue intersection, minutes west of downtown Waterloo. It has more than 228,000 square feet of event space, with a mix of 10 indoor and outdoor buildings, including the Electric Park Ballroom, which has a capacity of more than 1,100 people, and the Hippodrome, a sports and concert venue that can hold up to 7,000 people.

Macri III said a key component of the redevelopment is it will benefit not only people who visit the National Cattle Congress site but also the community and region.

“It’s going to not only benefit people who use the grounds but bring in other development and other uses that will spur economic benefit and the entertainment opportunities in the community,” said Macri III, the exclusive development consultant and sales and leasing agent for the National Cattle Congress. “This site with where it’s located regionally with its access and its sheer size with the amount of ground that is available there, there are a lot of options that we’re looking at of what can, could, would and should happen.

“It’s trying to hone in on the best opportunities and the best possibilities and come up with a plan,” he said.

About 40 acres of the 53-acre site are being used, leaving about 13 acres available for new development, Macri III said.

“It’s a significant parcel of land as it relates to the Cedar Valley, and if done appropriately, this will be a major spur in the economic development and the redevelopment of that corridor,” he said.

The next steps include a request for proposal process and meetings with various developers, architects and engineers to develop a vision for what the redevelopment of the National Congress site could be.

“The National Cattle Congress’ plans for this project are designed to give our organization better capability in delivering our mission, which is to provide memorable and lasting shared experiences across all agricultural, artistic, educational and leisure activities for our visitors,” Deb Pullin-Van Auken, National Cattle Congress president, said in a news release.

She said no disruptions are planned for any events currently scheduled at the National Cattle Congress grounds.

Macri III said he would anticipate announcements on redevelopment beginning in 2025, with overall redevelopment being a yearslong endeavor.

“Things are going to be changing,” he said.