Dec 20, 2021 - Real Estate
Des Moines considers $20 million mixed-use building in East Village
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Illustration courtesy of Heart of America via the city of Des Moines
Construction of a $20 million residential and commercial building in Des Moines' East Village could begin this spring.
Driving the news: The plans go before the City Council Monday.
Why it matters: Preliminary financial terms between developer Heart of America and the city call for more than $4.8 million in incentives for the seven-story project at 317 E. 6th St.
- Yes, but: The project will generate almost $12 million more in taxes over the next 30 years as compared to the site's current development, city officials estimate.
Details: A pool, fitness center and dog park are part of the 110-apartment plan.
- The ground floor will be dedicated to commercial space.
What's next: The final terms will come before the council in coming weeks.
- A late 2023 completion is anticipated.
