.bodytext {float: left; } .floatimg-left-hort { float:left; margin-top:10px; margin-right: 10px; width:300px; clear:left;} .floatimg-left-caption-hort { float:left; margin-bottom:10px; width:300px; margin-right:10px; clear:left;} .floatimg-left-vert { float:left; margin-top:10px; margin-right:15px; width:200px;} .floatimg-left-caption-vert { float:left; margin-right:10px; margin-bottom:10px; font-size: 10px; width:200px;} .floatimg-right-hort { float:right; margin-top:10px; margin-left:10px; margin-bottom:10px; width: 300px;} .floatimg-right-caption-hort { float:left; margin-right:10px; margin-bottom:10px; width: 300px; font-size: 10px; } .floatimg-right-vert { float:right; margin-top:10px; margin-left:10px; margin-bottom:10px; width: 200px;} .floatimg-right-caption-vert { float:left; margin-right:10px; margin-bottom:10px; width: 200px; font-size: 10px; } .floatimgright-sidebar { float:right; margin-top:10px; margin-left:10px; margin-bottom:10px; width: 200px; border-top-style: double; border-top-color: black; border-bottom-style: double; border-bottom-color: black;} .floatimgright-sidebar p { line-height: 115%; text-indent: 10px; } .floatimgright-sidebar h4 { font-variant:small-caps; } .pullquote { float:right; margin-top:10px; margin-left:10px; margin-bottom:10px; width: 150px; background: url(http://www.dmbusinessdaily.com/DAILY/editorial/extras/closequote.gif) no-repeat bottom right !important ; line-height: 150%; font-size: 125%; border-top: 1px solid; border-bottom: 1px solid;} .floatvidleft { float:left; margin-bottom:10px; width:325px; margin-right:10px; clear:left;} .floatvidright { float:right; margin-bottom:10px; width:325px; margin-right:10px; clear:left;} Seattle developer Dick Sontgerath backed out of his plan to buy and renovate the Rumely Building at 104 S.W. Fourth St., but Chicago developer Jay Trevor has taken his place.

Trevor, who operates J&T Development LLC, said last week that he has options to buy the six-story Rumely Building, located by the Science Center of Iowa, and an adjacent one-story building. “Our financing is in place,” he said. “I don’t see anything to hold up the project right now.”

Trevor said he hopes to close the deals with the two building owners in mid-November and begin work in December. He plans to renovate the Rumely, now being used for file storage, into 66 apartments, plus retail on the ground floor. The adjacent building would be demolished to make way for parking. He’s also working on rehabbing the nearby L&L Insulation building at 340 S.W. Fifth St.

“It’s a prime market for apartments right now,” he said of downtown Des Moines. “We were very fortunate and were able to utilize all the incentives in the area.” Such incentives include Enterprise Zone tax abatement; however, Trevor said he plans to rehab the building without using tax credits.