Under Kum & Go ownership, apartment building and body shop will continue to operate
Thursday, July 10, 2014 11:15 AM
It will be business as usual for Jefferson Apartments and Scotty's Body Shop, two properties recently acquired by entities related to Kum & Go LC in the Western Gateway, according to an email from the company.
"There are no immediate plans for changes to the buildings on these properties and normal operations will continue," according to the email. "These additional land purchases are in line with Kum & Go's growth and expansion plan as the company works to determine its downtown footprint."
Entities related to Kum & Go LC have made several purchases recently in the Western Gateway, where the company plans to build its corporate headquarters, the Business Record reported yesterday.
Limited liability companies paid nearly $7 million for properties that include Jefferson Apartments at 1519 Grand Ave. and Scotty's Body Shop at 1432 Linden St., according to Polk County property records. In April, Kum & Go's Linden Street Investments LLC paid $1.7 million for the Subway restaurant at 1423 Grand Ave.
The company has been approved for $9.1 million in state of Iowa tax credits to develop an anticipated $92 million corporate headquarters along Grand Avenue.
Other limited liability companies connected to the company and CEO Kyle Krause also have purchased several properties along Locust Street.
The Des Moines City Council approved a $974,000 development plan last month for properties held by Locust Street Investments LLC at 1420, 1424, and 1430 Locust. The project includes the restoration of two historic buildings that were once automobile showrooms and the conversion to office, restaurant and other retails uses.
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