Eastern Iowa "eyesore" to be torn down - KWWL - Eastern Iowa Breaking News, Weather, Closings

Eastern Iowa "eyesore" to be torn down

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WATERLOO (KWWL) -

What some call an eastern Iowa eyesore is set to come down this month after sitting empty for nearly 20 years.

Waterloo Greyhound Park will be torn down by the end of the month after Deer Creek Development bought the property.

After the building is torn down, Deer Creek Development is hoping to build a retail store in its place, but Deer Creek Development's CEO says he's also had interest from medical businesses and hotels. At this point nothing is set in stone just yet.

Broken glass and graffiti litter the inside of Waterloo Greyhound Park. For eight years Deer Creek Development's CEO Harold Youngblut had his eyes set to buy the abandoned building.

"It's a combination of relief and joy and excitement," said Youngblut. "We believe with Love's Travel Center right next door, we bring a big box retail here, it's going to really spur growth on the south entrance of Waterloo."

Deer Creek Development owns 122 acres adjacent to the Greyhound Park. In 2005, they branded the area the Greenbelt Centre, which is home to a few professional offices and Love's Travel Center.

Youngblut is excited to continue developing the area and in a few weeks the building will be torn down.

"We are going to go full force forward and try and work to bring a large retail site here," said Youngblut.

Over the past several years Youngblut says he's watched the building fall apart, and for future businesses that are looking to come to this area, it's crucial the building comes down.

"It's a great location to come into Waterloo, but this old Greyhound building is really been not only just an eye sore, but a detriment for the development," said Youngblut. "We had numerous businesses say if you would just get rid of that building we would come talk to you and that already happened this morning."

Youngblut says it took nearly a decade for him to buy this property because at one point there were hopes it would be restored somehow. Unfortunately nothing can be saved and the building will come down.

No TIF or government money was used for Deer Creek Development to purchase of Greyhound Park. This was a three-way deal between the Deer Creek Development, the National Cattle Congress and Meskwaki Nation.

You can read our original story HERE.

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