Invest DSM, which works alongside property owners to strengthen older neighborhoods in Des Moines, will expand its reach into three additional neighborhoods this year, said Amber Lynch, the organization’s executive director.

Invest DSM will begin offering grants through a variety of programs for improvements to homes and businesses in the Union Park, North of Grand and Woodland Heights neighborhoods.

Those areas will join Invest DSM’s current neighborhoods as Special Investment Districts. Current areas eligible for Invest DSM grants are Columbus Park, Drake, Franklin and the Oak Park/Highland Park neighborhoods.

“We do work with businesses in those areas but to a lesser degree,” Lynch said. “The vast majority of work that we do tends to be with homeowners that are living in those areas to help them make upgrades to the older homes that they’re living in.”

Invest DSM invests with businesses for the same reason, she said.

“Whether it’s a new business looking to occupy a space that’s been vacant for a long time or [an] existing business that is looking to expand or refresh their facade, we share the cost of all those types of projects,” Lynch said.

Invest DSM tailors its grant programs and support to each specific neighborhood, and it’s not a one-size-fits-all approach, she said.

Lynch said one component of Invest DSM is helping provide housing for the city’s workforce.

“Workforce means housing and they need a place to live, and we have found there are a lot of people who want to live in Des Moines and near some of those unique amenities,” she said.  “But we have much older homes than a lot of our suburban counterparts. So we’re trying to make sure those homes are attractive to the workforce all along the income spectrum so that we can retain those families in Des Moines, keep them supporting our local neighborhood businesses, keep them with easy access to downtown employers and we keep our city as vibrant as it should be.”

Lynch said Invest DSM is in the planning phase and meeting with stakeholders of each new neighborhood.

“They have been meeting with us to determine what are the unique challenges and opportunities in each of these places and where do we prioritize our resources,” she said.

Open houses are planned for the week of Feb. 10 where residents can review draft plans and provide their feedback.

The plans must be approved by the Invest DSM board and the Des Moines City Council before the grant application period could begin, which Lynch said would likely be this spring.   

So far, Invest DSM has prompted more than $60 million of investment in its five years in the current neighborhoods, Lynch said.

She said Invest DSM plans to be in a neighborhood for a 10-year period.

“So just because we’re adding these new ones doesn’t mean that we are exiting any of the other ones yet,” Lynch said.