Green Building Reno- (Old Brewery Block)

[DMRyan]

Public details are few at this point, but the city council has thrown their financial support to a $6 million dollar project to convert a portion of the old brewery building at SW 3rd Street and MLK Jr. Parkway to 25 residential apartment units. The building also sounds like there will be a mixed use commercial component.

With the area south of Court Avenue starting to pick up steam, I've thought that this may now be a suitable location for one of those large scale touristy entertainment districts that are popping up, similar to the Power and Light District in KC or 4th Street Live in Louisville. This area could feed off of what's already happened on Court Avenue, is very close to the ballpark, and could make good use of a few of remaining old buildings left in tact.

I had mentioned this idea in an older thread to be located in an area around the around the Iowa Events Center, but I'm not convinced that north downtown will be redeveloped for a very long time or even has enough economic appeal left to warrant redevelopment that isn't part of Mercy's, DMACC's or Principal's campuses.

At any rate, here is the brewery building referred to as the Green Building, along with a link to the council documents:

http://www.dmgov.org/Government/CityCou ... 10-686.pdf

[dogbo]

That building is dripping with potential. I'm excited to see if they can get this going.

[iowacountyite]

I couldnt help but notice that there was a van trailer for a construction company parked in the lot to the west of the building? Renovation underway????

[DMRyan]

No renovation underway yet, but hopefully things can get going late this year. I know the developer has been working on making this happen, but all has been quiet on just what exactly will be a part of the redevelopment other than 22-25 apartments.

[iowacountyite]

Public details are few at this point, but the city council has thrown their financial support to a $6 million dollar project to convert a portion of the old brewery building at SW 3rd Street and MLK Jr. Parkway to 25 residential apartment units. The building also sounds like there will be a mixed use commercial component.

With the area south of Court Avenue starting to pick up steam, I've thought that this may now be a suitable location for one of those large scale touristy entertainment districts that are popping up, similar to the Power and Light District in KC or 4th Street Live in Louisville. This area could feed off of what's already happened on Court Avenue, is very close to the ballpark, and could make good use of a few of remaining old buildings left in tact.

I had mentioned this idea in an older thread to be located in an area around the around the Iowa Events Center, but I'm not convinced that north downtown will be redeveloped for a very long time or even has enough economic appeal left to warrant redevelopment that isn't part of Mercy's, DMACC's or Principal's campuses.

At any rate, here is the brewery building referred to as the Green Building, along with a link to the council documents:

http://www.dmgov.org/Government/CityCou ... 10-686.pdf

I couldnt agree more Ryan. How cool would it be to be driving south out of the core on 3rd, 5th, or even seventh and see a lit up entertainment district just like 4th street live!

[Mototail]

Did anyone notice who the developers are? I great duo that have been great pillars in the community. However, it's the first time I can recollect that they've gotten into residential.

Green Building
SW 3rd and MLK
John Shors/Davis Brown

[dogbo]

Good news, bad news?

Good news - for sale/lease sign is no longer on the building. Bad news, no longer any sign of the Nelson Construction trailer that was parked there for several months.

What is up (if anything) with this project?

[DMRyan]

I don't think it sounds like good news for the time being, but it should just be a matter of time before this project is viable enough to go forward. Kind of like all of these other historic building rehabs that seem to take a while to get going, you just have to wait until the multiple layers of financing can be obtained.

We've been talking about the rehab of the Crane Building on here since 2005 and it just got going earlier this year.

[DMRyan]

A little bit of mixed news on this project. The rehab of the building has taken the back burner, put note the plans for a new building on the large lot fronting MLK Jr. Parkway.

From the Business Record:

Still plotting the future for Green Foundry complex

Greater Des Moines real estate developer Rich Eychaner hopes to benefit from the next round of federal flood recovery money as a way to jump-start development of the former Green Foundry complex at West Martin Luther King Jr. Parkway and Southwest Third Street. Proposals are submitted to the city, then sent to the state for approval. Eychaner said the inability to find retail tenants who could afford lease rates necessary to support development of the property slowed plans during the recession. He hopes to qualify for $3 million in federal disaster recovery funds. That amount could leverage financing for the construction of two apartment buildings that could total 100 units on the west side of the property. "I think then that you can put some pressure on retail" to locate in existing structures at the historic site, the developer said.

[Mastermind]

A little bit of mixed news on this project. The rehab of the building has taken the back burner, put note the plans for a new building on the large lot fronting MLK Jr. Parkway.

From the Business Record:

Still plotting the future for Green Foundry complex

Greater Des Moines real estate developer Rich Eychaner hopes to benefit from the next round of federal flood recovery money as a way to jump-start development of the former Green Foundry complex at West Martin Luther King Jr. Parkway and Southwest Third Street. Proposals are submitted to the city, then sent to the state for approval. Eychaner said the inability to find retail tenants who could afford lease rates necessary to support development of the property slowed plans during the recession. He hopes to qualify for $3 million in federal disaster recovery funds. That amount could leverage financing for the construction of two apartment buildings that could total 100 units on the west side of the property. "I think then that you can put some pressure on retail" to locate in existing structures at the historic site, the developer said.

Disaster funds from what?

[DMRyan]

Disaster funds from what?

The state is still trying to figure out how to spend money received for flooding in 2008 and 2010. This is the same funding that was recently given to the Younker's Building, Ingersoll Square project, Franklin Field, and the Des Moines Building.

[Young DSM Social Club]

How do you find out how to apply for these flood disaster funds? Is there a website or something? Qualifications?

Strange selection of projects being most aren't even near water ... ?

[dogbo]

I don't know anything specific, but I assume the money is awarded to areas/regions that were negatively affected by the floods to be used for overall revitalization (not necessarily to address flood damaged projects) and to help stimulate the local economy previously hurt by the disaster.

[DMRyan]

Phase I of this project is a 3-story, 54 unit building to be built in the current gravel lot to the west of the Brewery Block building. Plans have been submitted for review to the Plan and Zoning Commission, but not sure if this project will be a go unless it receives the disaster recovery funding.

I believe there are plans for two apartment buildings to be built on the gravel lot, with phase III being the renovation of the actual brewery building.

[DMRyan]

Here are the proposed renderings for the new apartment building on this site which is slated to have two commercial bays with frontage to MLK Parkway.

(Renderings courtesy of Simonson & Associates)

[dsmspence]

VERY cool! I like the contemporary look juxtaposed with the old building.

[casbern]

That's awesome. Good to see some development closer to the stadium.

[Shumakerlevy]

I believe I saw that only 2 projects were approved by the city for these Fed Flood relief funds last week.....and this project was not one of those projects.

DMRyan...does that sound correct?

I think the project in the East Village ( Locust House ) was approved and also a housing project for the north side of downtown. ( I can't recall the name off hand.... )

Too bad this one didn't make that cut.....it sounds like a great plan... and to agree with earlier posts - this old brewery building is simply aching to be repurposed. It is a fantastic site.

[DMRyan]

You are correct about the projects the City will submitting applications on to try to receive CDBG D-R funding (they haven't been awarded funding yet).

However, it doesn't sound like not having their application approved is necessarily the end of the line for this apartment project, and the eventual work on the brewery building itself.

[dogbo]

Very sharp (although would like to see another floor or two to make it taller) and hope things can eventually move forward on this. D