Dec 9, 2021 - Business

Des Moines storage project lands $1.5 million incentive

An illustration of a storage facility project planned in Des Moines.

One of two buildings that will be constructed near the corner of Southeast 12th Street and Martin Luther King Jr. Parkway. Architectural rendering courtesy of Imprint Architects

Des Moines officials approved a $15.5 million project this week to build two storage facilities on the edge of downtown's developing Market District.

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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