City studying Market District parking needs
KENT DARR Aug 22, 2016 | 8:20 pm
2 min read time
407 wordsAll Latest News, Real Estate and Development
A rush of developer interest in the Des Moines Market District is bringing city staff closer to earth in its long-term planning for the area, Assistant City Manager Matt Anderson told the City Council this morning.
A conceptual plan for the 45-acre area that runs from roughly Locust Street south to Scott Street and west to the Des Moines River from East Seventh Street provided a “30,000-foot view,” he said.
With work set to start next week on a nearly $11 million office building, the potential for a $140 million federal courthouse and additional property for sale or under contract, there is a need for a detailed view of infrastructure needs, Anderson said.
“Current day implementation is requiring us to focus in on immediate details not investigated in the plan,” he said in a report to the council.
City staff is anticipating future parking needs. Brothers-in-law Adam Petersen and Jim Kottmeyer and equity partners are the forces behind the office building at 220 S.E. Sixth St. They have agreed to add an extra level and 60 additional parking spaces to the parking garage that will be part of the project. Read a related story at BusinessRecord.com.
Anderson said the city will lease those additional spaces at $125 per space per month for the next 25 years, with the intention of assigning those spaces to another developer, eventually.
Eventually could be two years away, he said. In the meantime, the spots could be used by workers in various city departments, special events and for contractors who need parking for workers on other projects.
By early next year, another large property user, the city, could issue requests for proposals for the roughly 6 acres of land now occupied by public works and fleet maintenance operations. Efforts are underway to find new locations.
Meanwhile, a range of developers are hoping to acquire more land in the Market District. Nelson Construction & Development has an option to buy the 2-acre Rowat Cut Stone site at 110 S.E. Seventh St., and the 3-acre Recycling Inc. property at 201 S.E. Sixth St. recently 
went on the market at a price of $1.8 million.
went on the market at a price of $1.8 million.
Anderson said although a conceptual plan has been in place for six years, the city’s intent has been to let development happen at its own pace.
“We always just planned to respond to the market, rather than force an area that wasn’t ready,” he said in a recent email. “I guess it’s the market that’s ahead of schedule.”
Trending News
