Des Moines city officials have taken a decisive step toward reshaping the city's sports landscape by approving a 50‑year lease for a new professional soccer stadium built on a former Superfund site.
A Vision for Major League‑Level Play
The agreement, signed by the Iowa Soccer Development Foundation and the municipality, earmarks an annual lease payment of $656,075. In return, the foundation will host men’s and women’s professional teams beginning in late 2028 or 2029, with a minimum seating capacity of 5,500.
The stadium will sit east and north of the Raccoon River, just south of Martin Luther King Jr. Parkway at SW 16th Street. A accompanying Global Plaza will serve as a pre‑ and post‑game gathering space and a venue for festivals and other community events.
The site was acquired by the city in 2021 and has since undergone extensive remediation under the supervision of the U.S. Environmental Protection Agency, clearing contaminated structures and treating polluted soil.
Krause Group, a local development firm, first announced the concept in 2019. The Iowa Economic Development Authority selected the project for funding the following year, and Krause Group CEO Kyle Krause signed a franchise agreement in 2022 to field a men’s United Soccer League team.
In 2025, Krause secured a second franchise for a women’s professional team in the Gainbridge Super League, expanding the city's soccer ambitions beyond a single club.
The project's price tag has risen to $95 million from an original 2019 estimate of $60 million, reflecting broader construction cost increases. To bridge the gap, the City Council approved a $7 million tax increment financing package and pledged $1.5 million toward the Global Plaza.
The lease arrangement also includes a $13 million grant for the Iowa Soccer Development Foundation to cover environmental mitigation costs, underscoring the city's commitment to sustainable development.
With the lease now approved, developers have six months to deliver a conceptual development plan that will be reviewed by the city's Urban Design Review Board before construction can commence, targeting a start date in late 2026 or 2027.