Ingersoll Square Condo/Commercial Project

[Hojo]

I saw on Craigslist that Chipotle is hiring assistant managers and general managers for the Des Moines area - just fanning the flames....

[dogbo]

An article in the Register today indicated that they would be starting on the other 3 story loft building in September to be completed later in 2009. Units will be for lease (not for sale). Completed building is 90% full. Also indicated that almost complete commercial building has 5 - 7 possible tenants, but no leases signed. A Mexican restaurant was mentioned as a possible tenant.

Also mentioned that the developer bought the recently sold commercial bulding across the street (on Ingersoll) and plans to rehab it.

[DMRyan]

As someone who lives within minutes of downtown, I'm thinking that if this place can land an ice cream shop like Cold Stone Creamery or popular chain restaurant or two like Chipotle, it's something the area could really use. It would be nice to see these types of businesses go into the more urban areas right in the middle of downtown, but a semi-surburban retail development like this might be exactly what is needed to bring some new life into the Ingersoll corridor. Some of the non-chain people may shoot at me for that, but you get sick of eating at Manhatten Deli and Snookie's all the time. The area needs places like this too.

From the Register:

Ingersoll Square shifts into its second phase
By JOANNE BOECKMAN • jboeckman@dmreg.com • August 29, 2008

The $40 million Ingersoll Square project, on five acres north of Ingersoll Avenue between 19th Street and Martin Luther King Jr. Parkway, is nearing its halfway mark.

Construction on the first of two three-story buildings with loft apartments began in May 2006 and was completed in December 2007. The first of two 14,000-square-foot retail buildings is expected to be ready for commercial tenants to move in by the end of this month or early September, said Shane Madison, president and owner of Pinnacle Construction Group, builder for the project.

Construction on Phase 2, the second loft building, will begin next week at High Street and Martin Luther King Jr. Parkway, Madison said. It could be ready for occupancy by late summer or early fall 2009. That building will be a mirror image of the existing loft building at 19th and High streets and will have 60 one- and two-bedroom lofts and underground parking.

The last building for the project will be the second retail building, to be constructed along Ingersoll Avenue and west of the first retail building.

Developers for the project are Bob Caluzzi and Craig Mettille of High Land Co.

Several business owners have signed letters of intent for the first retail building, but none have signed a lease yet, Caluzzi said.

"There could be a maximum of seven tenants, but more than likely there will be five," Caluzzi said. "We're looking at a few Mexican restaurants, an ice cream store, a shoe store and a nail and hair salon."

The loft building at 19th and High streets has 70 one- and two-bedroom units, ranging from about 800 to 1,400 square feet. It also has a swimming pool, hot tub, fitness center, community room and underground parking. With tenants in 65 of the units, the building is already more than 90 percent occupied, said Phyllis Kline, property manager.

The lofts are Euro-style with 10-foot-high ceilings and exposed ductwork, concrete floors and counter tops, stainless steel appliances and sliding barn-like doors. Caluzzi called them "real edgy."

The units were modeled after lofts in the LoDo district of Denver, a revitalized urban area and mixed-use historic district; and the Minneapolis Warehouse District, a similar neighborhood known for its art and entertainment, he said. The architect was Will Worthington of Des Moines.

The Ingersoll lofts were originally offered for sale, but a sluggish market dictated a change of plans and they are now available for lease.

"It was always our strategy that if the units wouldn't sell, we would rent them," Caluzzi said. "We still have people coming in wanting to buy, but for now we're going to continue to lease.

"We may have an opportunity to sell them down the road, or we may hang onto them as an investment."

Leasing appeals to people who want to try loft living without committing to buying, he said. He attributed the high occupancy rate of the apartments to leasing, as well as its amenities - including the parking and fitness center - and the location.

"Great things are happening in that area," he said. "Gateway Market has been a plus, and tenants will have the benefit of a new Dahls at 31st and Ingersoll."

The neighborhood will become even more appealing with the revitalization occurring there, he said. Simonson & Associates Architects and Gilmore & Doyle Ltd. are redesigning the Stivers Lincoln Mercury dealership at 1717 Ingersoll Ave. They will be owner/tenants and the remaining space will be leased, possibly for a restaurant.

Caluzzi said he also is buying a building across the street, at 1906 Ingersoll Ave., and has plans to renovate it.

High Land Co. originally included as a partner John Kline of Oaks Development Co. After Oaks hit financial difficulties, Caluzzi, Metille and Kline dissolved their partnership about nine months ago. Caluzzi and Metille reorganized High Land Co.

Kline had pledged $25,000 to the Ingersoll streetscape project, and Caluzzi said he and Metille would fulfill Kline's pledge.

"I want people to know that we are firmly committed to the Ingersoll streetscape project," Caluzzi said.

The streetscape project is expected to beautify the business corridor along Ingersoll Avenue and make it more pedestrian friendly.

[spacebetween]

This is good news, plus Hubbell has their Midtown Heights development right across the street from this project as well to add to the equation. It is good to see the strarting phases of the "Add the connection between downtown to Sherman Hill" plan in the works.

[Philby]

While I'm mostly a non-chain person - i would love to see any or all of the following chains locate on this corner. Chipotle, Buffalo Wild Wings, Hu Hot.

While they are chains, they have fantastic food - which is my main complaint with most chain restaurants. Plus there's plenty of independant businesses downtown and along ingersoll, so it's not like they will be the only option.

[Aulus]

If Chipotle moves in there, my son is going to be so jealous.

[Hojo]

That location sorely needs a restaurant with outdoor seating. Flanagan's has a decent patio, but I think a bar (I'm all for somewhere with good wings!) with a patio is a necessity on this corner.

[DMRyan]

Ingersoll Square's first commercial phase is wrapping up work. I'm anxious to see that Chipotle and Marble Slab Creamery sign stuck on the building!

[spacebetween]

If it were me, and I lived in the units behind this retail building, I would not want anything food related that close to my residence. The smell would be so enticing it would be hard to stay away. Plus, I would have to close my windows all summer to avoid the smell, which would increase my electricity bill.

[Ingersoll1978]

If it were me, and I lived in the units behind this retail building, I would not want anything food related that close to my residence. The smell would be so enticing it would be hard to stay away. Plus, I would have to close my windows all summer to avoid the smell, which would increase my electricity bill.

I live right behind Ted's and Subway and I rarely smell anything from them (with a balcony and almost all windows facing them). Last night, I smelled burgers during the dinner hour...but honestly, that is the first time I've ever noticed the smell. It made me hunger for burgers...and I went for one...LOL The worst thing is late at night with all the customers of Zimm's and GT's congregating outside and motorcycle noise (why people feel the need to rev their engines at 2 a.m. is beyond me). They can get pretty loud.

[Ingersoll1978]

If it were me, and I lived in the units behind this retail building, I would not want anything food related that close to my residence. The smell would be so enticing it would be hard to stay away. Plus, I would have to close my windows all summer to avoid the smell, which would increase my electricity bill.

I live right behind Ted's and Subway and I rarely smell anything from them (with a balcony and almost all windows facing them). Last night, I smelled burgers during the dinner hour...but honestly, that is the first time I've ever noticed the smell. It made me hunger for burgers...and I went for one...LOL The worst thing is late at night with all the customers of Zimm's and GT's congregating outside and motorcycle noise (why people feel the need to rev their engines at 2 a.m. is beyond me). They can get pretty loud.

[Hojo]

I was on Snap Fitness's website and they have a location at MLK and Ingersoll listed as "Coming Soon" - so I'm guessing there will be one in this building. A fantastic location for one of these 24/7 gyms, if you ask me.

[MR. Ruan]

What is the deal with this place? Are they ever going to announce who the tenants are? The suspense is killing me.

[dogbo]

What is even stranger is there is zero work being done on any of the bays. That seems strange that you wouldn't have at least one or two of the newer tenants working to put their stores in by now. Makes you wonder how solid any of their tenants leads are/were.

[dogbo]

Sounds like there is some activity going on in a commerical space or two. Anyone have any info?

[wmjindsm]

I had something on the Ingersoll/Grand news. There has been a section leased. There is a sign in the window, and that's all it says is "Leased". And I did see some measuring going on last week too. But I know nothing else.

[wmjindsm]

Just curious, has anybody heard who has leased a space here yet?

[Young DSM Social Club]

Have heard of two tenants (no confirmation)

1) Frank's Pizza, but with a new name

2) Quiznos (I assume relocation of the one on Grant?)

I would love an ice cream store and a Chipotle ....

[conquistador2]

Y.D.M.S.C. said:

1) Frank's Pizza, but with a new name

2) Quiznos (I assume relocation of the one on Grant?)

1) Awesome

2) Would be good, too, although hopefully they'll address their issues with the unfriendly counter help.

[dogbo]

I was going to guess a Snap Fitness or one of the other 24/7 Fitness Centers would be the new tenant. There was an article in the DM Business Record on a new fitness franchise opening soon in downtown DM. Could this be it?

http://businessrecord.com/Main.asp?Sect ... leID=10103

[MusicMan]

Y.D.M.S.C. said:

1) Frank's Pizza, but with a new name

I've heard this as well.

[wmjindsm]

I just noticed that five years ago yesterday was the first post on this development (Happy Anniversary) I wish more would have be in here by now and the mirror of the condos were in also but I know economics have a lot to do with it but still kinda sad.

[DMRyan]

The first two tenants out of the gate are the long speculated reincarnation of Frank's Pizza (now called Gusto Pizza) and the Rock Valley Physical Therapy Clinic.

[wmjindsm]

Kosama has signs up in the building now. The website states it will open August 16.

http://kosama.com/downtown.php

[dogbo]

So now there is three commitments?

[SFO2DSM]

http://twitter.com/frankspizza/statuses/16956830757

[wmjindsm]

http://twitter.com/frankspizza/statuses/16956830757

also updated...

http://frankspizzadm.com/

[Mastermind]

Finally
http://blogs.desmoinesregister.com/dmr/ ... ll-square/

Kosama, the extreme fitness center that offers a complete body transformation, will be opening another franchise at 1905 Ingersoll Ave. in Des Moines.

http://www.kosama.com/index.php

[wmjindsm]

I forgot to mention yesterday that Kosama is now open. Now I get to feel guilty when going into work with my Snickers and Mello Yellow watching all the prople working out!

[SFO2DSM]

This can only be a good thing!
http://twitter.com/frankspizza/statuses/24404285025