Des Moines storage project lands $1.5 million incentive
Why it matters: The development is estimated to result in an additional $14 million in taxes over the next 30 years, according to the city.
Driving the news: The City Council approved $1.2 million in incentives for the development by Des Moines Climate Controlled Self Storage, which is owned by metro businessman Mark Bockenstedt.
Details: The four-story buildings at 503 SE 12 St. will have exteriors that look like old-style warehouses.
- The city is selling about two acres to house the buildings.
Between the lines: The Market District, which was formerly an industrial area, is the target of a $750 million revitalization plan launched this year.
- Housing, hotels, office space and entertainment venues are envisioned for the area.
What they're saying: Des Moines resident Taylor Webber questioned if storage units are the best use for city incentives during this week's council meeting.
What's next: Construction on the first building will begin in the spring.
- The second building will be constructed within the next four years, according to the development agreement.
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