The developers of Ingersoll Square have a couple of good numbers to report: On the Saturday of the condominium project’s grand-opening weekend, 500 people stopped by to take a look inside; and with completion of the first phase still a season away, three buyers have signed up to live there.

Two singles and a couple have bought condo units, according to Iowa Realty agent Phyllis Kline. All three of the units are on the third floor of the three-story building: two 796-square-foot units with views to the west went for $184,900 apiece, and a south-facing two-bedroom unit with 1,117 square feet sold for $268,900.

The project at the northeast corner of Ingersoll Avenue and Martin Luther King Jr. Parkway is being developed by High Land Co. LC, whose principals include Craig Mettille and Bob Caluzzi of Grand Avenue Developers and John C. Kline of The Oaks Development Co. Pinnacle Construction of West Des Moines is the general contractor.

High-end condos downtown have been slow to sell, but Phyllis Kline noted that “they’re moving in the $140,000 to $200,000 range; 200 seems to be the magic line.”

Of the 69 units listed in the project’s first building, 42 are priced below that figure. Eighteen are priced between $200,000 and $300,000, and nine are higher, topping out at $348,900.

Buyers will be assessed association dues ranging from $112 to $228 per month based on square footage. Those fees cover expenses such as trash removal, pool maintenance, snow removal and janitorial services.

The phase one building is scheduled to be ready for occupancy by September, and construction of a second, virtually identical residential building will have started by then.

The third phase, retail construction along Ingersoll, is projected for 2008.

A standout feature of the residential buildings will be a common area in the middle, facing south to a swimming pool and hot tub. The main gathering space will include a gourmet kitchen area where the developers hope to stage cooking demonstrations by local chefs.

They recently decided to install an exercise room directly above that space, rather than the open sun deck they had planned.

The exterior of the building features brick, tan accents of burnished block and aluminum check plates above the sliding glass doors and on the balcony decks. One underground parking stall is provided for each unit.

Inside you find 10-foot ceilings, large windows, some brickwork, walls that stop short of the ceiling, interior doors suspended from rollers on tracks, sealed concrete floors and exposed ductwork.

“A lot of the condos in refurbished buildings have exposed concrete,” said Shane Madison, president of Pinnacle. “Here, it has a finished look, but an industrial feel.”

The units include concrete countertops – the buyer gets to select among several colors – hardwood cabinetry, stainless-steel kitchen appliances, a moveable kitchen island, a washer and a dryer.

Each buyer has the option of upgrading to hardwood floors.

The project is located farther away from the downtown core than most of the other condos now entering the marketplace, but it’s near the stores and restaurants on Ingersoll.

Kline and Madison emphasized the neighborhood atmosphere and open views, as well as the Gateway Market that recently opened nearby.