NDC teams with real estate firm to build apartments south of downtown
BPC Staff Sep 24, 2015 | 4:13 pm
<1 min read time
100 wordsAll Latest News, Real Estate and DevelopmentThe Neighborhood Development Corp. plans to build a $25 million apartment complex south of downtown Des Moines with the help of TMG Properties, a local real estate firm investing in the project, reports DesMoinesRegister.com. The 172-apartment Dunham Square project at Indianola and Jackson avenues is the most expensive project ever for the neighborhood development group, a city-funded nonprofit formed to reverse blight. TMG will invest in the project and own the property. NDC will receive a development fee. The partnership allows the nonprofit to finish the project in one phase rather than over five to six years, said NDC’s Abbey Gilroy.
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