City Square Loft
Des Moines, IA
With new hotels, grocery, retail and housing, downtown Des Moines is becoming a bustling area indeed. City leaders say nearly all of downtown’s 6,000 units are occupied, but there’s room to add another 1,300 to 1,500 to the market and the East Village’s biggest real estate development in years is City Square Loft, located on Locust Street.
“We’re just kind of building on this momentum and there’s not a whole lot of end in sight right now,” said Matt Anderson, assistant Des Moines city manager.
The $49 million hotel, apartment and parking garage development covers an entire block between East Locust and East Walnut streets and between East Second and East Third streets. The project was completed in summer 2016, and the seven-story City Square Lofts features 124 market-rate apartments mostly facing Walnut Street. A roughly 120-room Staybridge Suites faces Locust Street and a 317-stall parking garage is sandwiched between the two.
Hansen Real Estate Services has been trying to develop the site for about seven years. After a slight hiccup, the Historic East Village Board pulled its support for the project, saying retail space was needed to promote pedestrian activity. Ultimately, the two sides reached a comprise when Hansen agreed to install grease traps so street-level apartments could potentially be converted to restaurant space in the future.
City Square is the most expensive East Village developments in recent memory. Michael Gartner, the owner of the Iowa Cubs, is a partner in City Square. The project was designed by Invision Architecture and Reynolds Urban Design.
Wells contributed nearly 170,000 square feet of precast concrete to this project, including double tees, spandrels, wall panels, columns, and beams.