Developer Joe Cordaro plans to build two four-story mixed-use buildings in the 1200 block of Eighth Street in West Des Moines. Each building, which would be located on the east side of the street, would include ground level retail space. Apartments would be on the second through fourth floors. Rendering by Vantage Architects

 

West Des Moines project, slowed by COVID-19-related delays, back on track

WHAT: 
Mixed-used development
WHERE: 1249 and 1261 Eighth Street, West Des Moiens
PROJECT COST: About $17 million
DEVELOPER: JGC Holdings LLC, managed by Joe Cordaro
ARCHITECT: Vantage Architects
BACKGROUND and UPDATE: The West Des Moines City Council this week approved an amendment to the Midtown Urban Renewal Area that allows a proposed mixed-used development to move forward.
West Des Moines developer Joe Cordaro, manager of JGC Holdings LLC, is proposing the construction of two, four-story buildings that would include ground-level retail and office space and apartment units on the remaining floors. The two buildings would include a total of 83 apartments and 24,000-square feet of new commercial space.

The amendment to the urban renewal area allows low- to moderate income residential projects as an eligible tax increment financing use.

The council on Aug. 17 is expected to approve a development agreement with JGC Holdings that would include providing the company grants from tax increment financing over five years that would not exceed $1.6 million.

Cordaro had hoped to begin construction this summer on one of the buildings. However, the outbreak of the novel coronavirus created delays with the project.

Cordaro said he hopes to start the project yet this year "but timelines are still hard to predict."
- By Kathy A. Bolten

Previous coverage: Development planned along Eighth Street in West Des Moines

A Commercial Real Estate Weekly feature in which the status of projects underway in the Greater Des Moines area are updated. Want to include an update about your project or suggest a project to include? Email: 
kathybolten@bpcdm.com.