The Principal Financial Group & City of Des Moines Unveil Plans for the Principal Riverwalk

Business Wire,  Feb 11, 2003  

Tags: Principal Financial Group

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Business Editors

DES MOINES, Iowa--(BUSINESS WIRE)--Feb. 11, 2003

More than 5,000 comments from the community considered

in creation of final design

The Principal Financial Group(R) and the City of Des Moines unveiled plans for The Principal Riverwalk during a public event and press conference held this evening at the Des Moines Public Library. Included in the presentation was streaming video animation, providing a "bird's eye view" of the completed project.

Plans for The Principal Riverwalk include:

-- A landscaped, lighted 1.2 mile multi-purpose trail, which includes a two-tiered trail on the west side of the loop with a designated pedestrian walking trail and a separate multi-purpose trail for bikers and roller-bladers

-- A fountain and skating plaza on the east side of the river (south of the Armory)

-- Refurbishing the abandoned railroad bridge (south of Court Avenue bridge) to create a pedestrian bridge

-- A new landmark pedestrian bridge (near Center Street Dam)

-- Civic gardens (west of City Hall)

-- East and West Court Avenue Plazas

Public input has been a key driver in the development of the final plans. Members of the community have submitted more than 5,000 comments and suggestions since The Principal unveiled the project last March.

"We have been enormously pleased by the overwhelming response from the community and the final plans reflect that we've listened to what they had to say," said J. Barry Griswell, Chairman, President and CEO of the Principal Financial Group. "The citizens of Greater Des Moines have embraced The Principal Riverwalk not just as a catalyst for economic growth but as a central gathering place for the whole community to enjoy safe recreational activities. The bridges and paths will connect the east and west side literally and figuratively."

Griswell adds that people have been especially interested in the design of the landmark pedestrian bridge. "The design for the landmark pedestrian bridge near Center Street has not yet been selected. We're continuing to consider options."

Keeping the design simple, and not over programming the space were prominent sentiments of the community. Some of the most requested amenities include:

-- Fishing piers of the bank of the river

-- Outdoor vendors (ice cream vendor most often noted)

-- Flower and butterfly gardens

-- Public art

-- Water fountains

-- Picnic areas

-- Outdoor theater

-- Well lit multi-purpose trails

-- Playground areas

-- Recreation/adventure parks

Overall, plans for The Principal Riverwalk represent an amalgamation of information gathered during the eight-month-long feasibility study conducted for this project, which covered issues such as historical relevance; flood protection and water flow; natural habitat; the incorporation of public art; landscape and architectural issues; maintenance; recreational attributes; economic impact of residential, commercial, entertainment and retail activities; universal accessibility for all; and the working relationships between the private and public sectors.

Completion of The Principal Riverwalk, including a connecting trail to Gray's Lake, is estimated to cost about $25 million. The Principal Financial Group Foundation, Inc. has committed to contributing $10 million to the development, with plans for the City of Des Moines to apply for federal matching monies.

Plans call for ground to be broken for The Principal Riverwalk in 2003, with portions of the project to be completed as early as 2004.

About The Principal Riverwalk

The Principal Riverwalk will connect the east and west sides of Des Moines through a seamless series of walking paths and bridges. Once completed, the project will anchor four downtown Des Moines major attractions: the Botanical Center, the Court Avenue District, the new Science Center of Iowa and the proposed Events Center. The project will also serve as a hub for the city's numerous bike trails, completing a loop from the Saylorville area to Gray's Lake.

About the Principal Financial Group

The Principal Financial Group(R) (The Principal (R))(1) is a leader in offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement and investment services, life and health insurance and mortgage banking through its diverse family of financial services companies. More employers choose the Principal Financial Group for their 401(k) plans than any other bank, mutual fund, or insurance company in the United States(2). A member of the Fortune 500, the Principal Financial Group has $111.1 billion in assets under management(3) and serves some 13 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. For more information, visit www.principal.com.

About the Principal Financial Group Foundation, Inc.