Hy-Vee commitment fuels interest in Prairie Trail
Activity is ramping up at the more than 1,000-acre Prairie Trail development near the geographical center of Ankeny, thanks partially to a commitment from Hy-Vee Inc. for a new supermarket.
The development, a joint effort between DRA Properties LC – which owns the land – and the city of Ankeny, is planned as an all-encompassing community that will contain a mix of homes, office space, commercial retail and entertainment. The land straddles Southwest State Street north of Oralabor Road, wraps around the Des Moines Area Community College (DMACC) Ankeny campus and extends to the east to South Ankeny Boulevard.
“This development is a completely different design, and you aren’t going to find anything like it in the state,” said Ashley Johnson, manager of sales, project planning and administration for DRA Properties. “(It has) this whole idea of you can work here, you can live here, and you can play here.”
Urban Design Associates out of Pittsburgh did the master plan for the community, which will include three schools, an array of parks, new businesses, about 600 acres of homes and The District, a brand-new area akin to a downtown center.
“We are really seeing people grasp this whole idea of a town-within-a-town concept,” Johnson said. “(It will have) everything you get in small-town living, but with the advantages of a larger city.”
Homes, along with a police station, the FFA Enrichment Center and the Iowa Soybean Association headquarters, have already been built on the land. Johnson said the plan has always been for at least a 10-year build-out, and she feels the project is still on track for that despite the slowdown during the past few years in both the commercial real estate and housing markets.
Marcus Pitts, vice president of Ruhl & Ruhl Commercial Co., the listing agent for the commercial properties at Prairie Trail, said activity and interest in the area have picked up considerably this year.
“I think from a commercial standpoint, I know this for sure, we have seen more activity year-to-date this year than we saw all of last year,” Pitts said. “And I think that is evident with the people we are talking to about this.”
There are various pieces to the project. Here is a breakdown of the status of each portion.
Precedence Neighborhood
Approximately 600 acres have been set aside for residential building. That total could be adjusted over time, but currently the developers are building on 62 acres at Precedence at Prairie Trail. The development contains 154 lots, with 74 already sold. The homes range in price from $200,000 all the way up to a high sale so far of $1.2 million. The yellow on the map denotes future areas of home building.
Plaza Shoppes
Pitts said that of all the areas, Plaza Shoppes, a 30-acre-plus commercial retail site, would likely be the next to be fully developed. Hy-Vee has purchased ground just to the west of six available lots and the Wendy’s fast-food restaurant chain has a purchase agreement to come into the area as well. Pitts said a medical user that should take about 12,000 square feet of space has heavy interest in the area, and that he hopes to release the name in the near future.
Pitts said the remaining 10 acres of unsold lots could accommodate roughly 60,000 square feet of retail. He said Ruhl & Ruhl is targeting a lease rate of $15 to $17 per square foot. Streets and utilities are already in place for the area, and Pitts is hopeful for a couple more groundbreakings in the area during the next six months.
Hy-Vee’s commitment to Plaza Shoppes, Pitts said, has helped fuel interest in the area. The supermarket chain has not announced a timetable for construction of the store.
The District
Although the project is still in predevelopment, the District is planned to be sort of like a downtown area for the city of Ankeny. Along with housing the public library and city hall, the area will include retail, entertainment, restaurants, some residences above retail shops and an outdoor amphitheater.
TerreMark Partners Inc. of Canton, Ga., is partnering with DRA Properties on the development of the District. Ann Kaser of TerreMark said plans call for the District to be built in phases, and it will encompass approximately 500,000 square feet.
The site was graded last fall, and TerreMark hopes to begin construction later this year and open the first phase of retail – 250,000 square feet – in late 2012.
The District is one of the most anticipated pieces of Prairie Trail and could fulfill one of the biggest desires of residents who voiced opinions at meetings during the initial planning stages.
“One of the biggest things that they heard was (they wanted) a kind of a center point or a meeting ground for the center of town,” Johnson said.
Vintage Business Park
In the northwest corner of the development, just to the south of John Deere Des Moines Works, is an 80-acre parcel of land planned to be used for Vintage Business Park. Pitts said this piece is a little bit further down the road for development. Land is for sale at prices between $3.75 and $4.75 per square foot.
“A lot of the people we are talking to that have shown interest either do business with John Deere, or work with Casey’s General Stores (Inc.) or Tone’s Spices,” Pitts said. “There are a lot of companies that are headquartered here in Ankeny that are very successful companies.”
Schools
Three new schools are planned to be built in the Prairie Trail development. A new high school on 70 acres and middle school on 25 acres are already under construction in the northeast corner of the development along South Ankeny Boulevard. Both are expected to open for operation for the 2011-12 school year.
The ninth elementary school in Ankeny will be built in the Precedence neighborhood on 16 acres of land. Construction is expected to begin in 2010.
Campus Town
This 30-acre-plus piece of land located just north of the DMACC campus is already home to the 30,000-square-foot Iowa Soybean Association headquarters, which opened last fall, and the 57,000-square-foot FFA Enrichment Center.
Plans are also in place for a $20 million luxury student housing complex called “The Pointe,” according to Brad Houser, co-owner of Campus View Student Housing. Construction on the approximately 150- to 200-unit complex will take place in two phases, with phase one expected to be completed by the start of fall semester 2011 and the second phase expected to be completed by the start of fall semester 2012.
Approximately five acres of land is available in the Campus Town vicinity.
Parks and Recreation
Four parks – Dean Park, Precedence Park, Promenade Park and Chautauqua Park – and the $10 million Cascade Fall Aquatic Center are also included in Prairie Trail. The aquatic center will sit on 16 acres of land donated by DRA Properties. In total, 200 of the 1,000 acres in Prairie Trail will be used for parks. Prairie Trail will also include 13 miles of trails and access to the three state trail systems that go through Ankeny.