Des Moines breaks ground on largest downtown housing project
Des Moines city leaders broke ground Wednesday on the $148 million 515 Walnut development, the largest housing project in downtown Des Moines history.
"It's gratifying, I think is the best way to say it," developer Joe Teeling said.
Teeling noted that the project faced numerous challenges, including a previous developer's failure to build the tower 10 years ago, as well as obstacles like COVID-19, high interest rates and inflation.
"I think the downtown, in particular, is going to add a new element of housing. There's nothing really like this. Thirty-three stories of glass, floor to ceiling. I think it'll bring new vibrancy to downtown," Teeling said.
"So hopefully, this gives everyone the lead and says it can be done. It gives you the opportunity to see what can be if we all work collectively together," said Des Moines Mayor Connie Boesen.
515 Walnut will feature 390 units, including a mix of studio, one-bedroom and two-bedroom apartments. The 33-story residential tower will be one of the tallest buildings in Iowa, significantly altering the Des Moines skyline.
"Today, we are truly celebrating history in the making," said Tiffany Tauscheck, president and CEO of the Greater Des Moines Partnership.
If all goes as planned, 515 Walnut should be ready by spring 2027.
»
» Download the free vlog app to get updates on the go: |
