Des Moines is trying to save the University of Commerce building

• An adjacent project would add dozens of parking spaces for public use and provide outdoor seating for Chuck's Restaurant.

Catch up quick: The building at 615 Euclid Ave. was constructed in 1920, near the former Highland Park College.

• It has been used primarily as a commercial building and has been listed in below-normal conditions in recent years, according to the Polk County Assessor.

Driving the news: Local developer Brian Clark bought the building last year and recently proposed a $5.75 million project to convert it into 14 apartments with commercial space on the first floor.

State of play: DSM's allocation is contingent on Clark securing additional funding for the project.

• Clark tells Axios that he hopes to resolve the financing gap in the coming weeks.

The intrigue: Invest DSM, a group that promotes neighborhood revitalization, has purchased nearby properties at 615 Euclid and 618 Clinton Ave. as part of its broader $1.9 million plan to create additional parking and a pedestrian plaza near Chuck's.

• The project still seeks about $600,000 to complete its financing, with hopes of moving forward with construction next year, Christopher Civitate, a development manager for Invest DSM, tells Axios.

What we're watching: Whether both the housing project and Invest DSM's parking plan secure remaining funding, potentially unlocking broader momentum for the district.