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Lincoln Savings Bank plans multimillion-dollar expansion in Waterloo


Lincoln Savings Bank on Friday announced it has purchased the top three floors of a historic building on the Cedar Valley TechWorks campus in downtown Waterloo, with plans for a  multimillion-dollar renovation of the vacant space. The John Deere Tractor Co. R Building, built in 1928, has been part of Cedar Valley TechWorks since 2007; its bottom three floors are currently occupied. Once renovations are complete, the 75,000-square-foot space on the top three floors will house 150 of Lincoln Savings Bank’s staff, with space for up to 100 additional employees over the next five years. Renovation will include improvements to the exterior and interior of the building. “Our significant growth over the past few years has made it necessary for us to find a space that will accommodate us well into the future,” Erik Skovgard, president and CEO of Lincoln Savings Bank, said in a news release. Lincoln Savings has selected Des Moines-based architecture firm Invision to design the space. Pending approval today by the Waterloo City Council, the project is expected to move forward with renovations starting in January, LSB officials said. The R building currently houses Grow Cedar Valley, the Cedar Valley Makerspace, Iowa Advanced Manufacturing Network Hub, Productive Resources, and the UNI Additive Manufacturing & Design Center.

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