Time not a luxury for high-rise apartment planning
KENT DARR Jun 19, 2015 | 3:50 pm
1 min read time
232 wordsAll Latest News, Real Estate and DevelopmentEleven days have gone by since the Des Moines City Council approved a tentative plan and development team for a luxury high-rise above the parking ramp at Seventh Street and Grand Avenue. As of today, a new plan is on the table.
Nelson Construction & Development and St. Paul, Minn.-based Exeter Group make up the development team, and along with BKV Group, a design company based in Minneapolis, the partners have come up with a new design that calls for 185 premium-rate apartments and rooftop gathering spots.
In addition, the new plan proposes the purchase of the top floor of the seven-level parking ramp for use by apartment dwellers. The city of Des Moines plans to demolish and rebuild the ramp at a cost of $22 million.
A two-phase, $35 million project was originally introduced. It included more than 260 rooms.
“The concept will evolve quickly over the next two months,” Matt Anderson, assistant Des Moines city manager, said after the development team was selected.
Given the project’s proximity to other downtown towers, such as 801 Grand and the Ruan Center, the city also wants the apartment building to make a statement against the downtown skyline.
The development team has more time to tinker with its proposal. The next hard deadline is in August, when the project will be presented to the city’s Urban Design Review Board.