Developer Jake Christensen plans a $6.3 million renovation of a building at 217 E. Second St., just north of Court Avenue. Photo courtesy of Polk County Assessor

A $6.3 million renovation is planned for a Des Moines building that once was home to a company that manufactured automotive hoists for service stations, a document provided to the Des Moines City Council shows.

Developer Jake Christensen is proposing a historic renovation of the Globe Hoist building, constructed in 1928 at 217 E. Second St. north of Court Avenue, according to the city documents.
The council on Monday will vote on whether to approve preliminary terms of an urban renewal development agreement with 217 E Second LC, which is managed by Christensen.

The Globe Hoist Co. was founded in Des Moines in 1936 and was the leading manufacturer of hoists in the world, according to a 1959 Des Moines Register article. The building’s unusual style of roof was described on the Polk County Assessor’s Office website in 2000 as a “sawtooth type roof.”

In recent years, the 20,500-square-foot building has housed a detailing shop, a bar and nightclubs.

Christensen bought the property in 2018 for $1.85 million, Polk County real estate records show. 
The proposed terms of the development agreement between the city and Christensen call for the project to receive financial assistance in the form of project-generated tax increment of about $1.2 million.

The property is valued at $649,100. However, it is currently exempt from property taxes, according to the assessor’s website. 

The property is expected to return to the tax rolls and, when renovations are complete, be valued at about $2.8 million, according to the city document. Over 20 years, the property is expected to generate $1.4 million in property taxes.

According to the city document, Christensen plans to convert the building to office and commercial space. The project will be Des Moines' first post-COVID office renovation, the document said.

The renovation will follow air quality recommendations from the American Society of Heating, Refrigerating and Air Conditioning Engineers that will include humidification, dehumidification, ultraviolet germicidal air filtration, additional filtering, CO2/dilution air control and a building automation system. 

Construction is expected to begin this fall with completion slated for late 2021.