East Village apartment project opens
Kathy A. Bolten Aug 23, 2024 | 6:00 am
3 min read time
714 wordsBusiness Record Insider, Real Estate and DevelopmentOne of the first things Mike Whalen tells people about the Tempo is that the new apartment building is constructed like a fortress.
The seven-story residential and commercial project is built with insulated concrete form walls that not only provide good insulation but also act as a sound barrier. Floors are also made with concrete.
“You cannot hear outside noise here,” said Whalen, founder of Heart of America Group, which owns and operates hotels, restaurants and other commercial developments in Iowa and Illinois. “It’s a fortress. And that means it’s not only a fortress in sound transmission but it’s a fortress in energy levels.”
The 110-unit Tempo, at 317 E. Sixth St., opened on Aug. 1. Units range from studio size to two-bedrooms. All include washers and dryers, walk-in closets, spacious kitchens and patios. The development also includes a patio with grilling stations, a swimming pool, a community room, a dog park and four parking spaces to charge electric vehicles.
Construction began in the summer of 2022. Building permits for the project placed its value just over $20 million.
The Tempo is Heart of America’s first newly constructed residential mixed-use project. (It is converting two buildings in Chicago to residential uses.) A second, similar residential project, called the Aston, is planned at 603 E. Sixth St. Whalen said he is hopeful construction will begin on the 186-unit project this year.
A recent CBRE Inc. market report estimated that 2,729 units are proposed to be built in the Des Moines area in the coming months. Over 1,270 of the new units are proposed in Des Moines’ Central Business District.
“There’s a demand for more housing, in general, in the metro area, and I think there’s a demand for more housing downtown,” Whalen said.
Both the Tempo and Aston are in downtown Des Moines’ East Village neighborhood, which includes restaurants and bars, boutique shops, hotels and residences. The Tempo’s units, depending on their location in the building, offer views of the Iowa State Capitol building, the downtown skyline and Principal Park. The Aston will provide similar views, Whalen said.
The Tempo’s concrete walls and floors are a key sustainability element of the residential and commercial project, Whalen said.
“It’s nice to talk about [electric vehicle] charging stations and no gas [appliances] and other things like that,” Whalen said. “But really, sustainability starts with how you build the building. … This building will be here for a long time. It won’t be torn down in 50 years and put in a landfill.”
The Aston will also be constructed with insulated concrete walls and concrete floors, Whalen said. “It costs more, but we’re long-term holders [of developments], which makes us different from others.”
Whalen describes the Tempo as “upscale” and sophisticated. Monthly rental rates start at $1,100 for a studio apartment; a two-bedroom, two-bathroom unit on the seventh floor is over $3,500 a month. Ceilings are 9-foot-high and windows are abundant in the units.
“We wanted to do a project that was more upscale,” Whalen said. “I think people are looking for something a little bit different, more unique. We’re already over 40% occupied, so I think we are onto something.”
All of the entries into the apartment units include black doors and framework. A panel next to the door includes black and brown vertical stripes. Ceilings in the hallways are painted black; walls are a bright white. The carpet is a charcoal twill.
“We tried to pay attention to everything in the building,” Whalen said. “In a lot of apartment buildings, corridors and public areas can get a little dingy. … Design and aesthetics are very important to us as a company.”
Residents of the Tempo will have access to Pace317, a boutique fitness club that will open in September in 4,200 square feet of street-level. The fitness club, which is owned and operated by Heart of America Group, will be available to residents and will also be open to the public who purchase monthly memberships.
Not every apartment resident wants use of a fitness center, Whalen said. “If you said it’s open to everybody, you have to build that into rent. We’re not doing that. Residents will get a discount.”
Kathy A. Bolten
Kathy A. Bolten is a senior staff writer at Business Record. She covers real estate and development, workforce development, education, banking and finance, and housing.