Hubbell Realty’s newest apartment building nearly ready to open

Pandemic slowed development of Level, which took five years to plan, build

https://www.businessrecord.com/wp-content/uploads/2022/03/KathyBolten2024-e1711723664520.jpg

In fall 2018, Hubbell Realty Co. began work on conceptual designs for a five-story, 114-unit apartment building in its Bridge District development just south of Interstate Highway 235.

The company’s goal was to begin construction on the project called Level in early 2020. The pandemic upended those plans.

Vertical construction of the $28 million project began in late 2021. In September, Hubbell expects to obtain an occupancy certificate and begin allowing residents to move into the building that includes a heated parking garage and a rooftop lounge with views of downtown Des Moines.

“It’s been a long, long slog,” said Matt Weller, Hubbell’s director of development. “We faced rising costs and lead time issues. Fortunately, we’re delivering into a market where the occupancy rates are 96% to 97%.”

Level layout
Level, a 114-unit apartment building east of the Des Moines River, is expected to open in September. The photos above show the exterior of the building, the inside of a one-bedroom unit and an indoor fitness center. In the photo below are Matt Weller, left, and David May. Photos by John Retzlaff

The Level apartment project is located in the Bridge District, a townhouse and apartment development started in 2015 by Hubbell. The district is south of I-235 and east of the Des Moines River. When completed, it is expected to include over 1,000 people living in over 470 residences.

Level includes one- to four-bedroom apartment units with monthly rents beginning at $1,295. Level’s close proximity to the East Village mixed-use neighborhood, the central business district, the river and pedestrian trails are key selling points to living in the building, Weller said.

“This is a prime location,” he said. “We have empty nesters that are moving into our apartments and young professionals. … This type of living is very attractive.”

Eleven pre-leases have been signed, Weller said. He said he expects the building to be fully leased by the end of the year.

1 MattWeller DavidMay
Matt Weller (left), director of development for Hubbell Realty Co. and David May, senior regional manager for Indigo Living, a Hubbell subsidiary.

“We have a teacher, a CPA, a nurse and [recent college graduate] who is working downtown,” said David May, a senior regional manager for Indigo Living, a Hubbell subsidiary. “They all liked that [Level] was within walking distance to a lot of different things.”

Amenities in Level include indoor and outdoor fitness centers, community patios with firepits, a pet courtyard and dog wash station, a business center with soundproof pods, and a first-level self-serve micro market, a new feature for Hubbell.

The market will have a variety of items including snacks, sodas and other beverages, pain medicines, crackers and other foods.

“If you want a Gatorade or need some Advil, you can go to the market and pick it up,” Weller said. The market is only open to Level residents; items are purchased with a credit card.

“We think this will be a great amenity for the residents. We’re not looking at it from an income-generating standpoint. It’s a convenience for residents so that they don’t have to leave the building to go get something small.”

Watch video: To hear Matt Weller describe amenities in Level, click here.

https://www.businessrecord.com/wp-content/uploads/2022/03/KathyBolten2024-e1711723664520.jpg

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.

Email the writer