Blackbird and EMC complete downtown Des Moines land deal
BPC Staff May 30, 2018 | 10:12 pm
1 min read time
129 wordsAll Latest News, Real Estate and DevelopmentBlackbird Investments said in a news release last week that it has completed a deal to acquire the east block of the Kaleidoscope at the Hub from EMC Insurance Co. in exchange for the cleared site where Younkers department store once stood. The Kaleidoscope will fall and be replaced by a 33-story mixed-use tower and another building. EMC is said to be planning an office building at the former Younkers site at 701 Locust St. EMC paid Blackbird $1.9 million for the building pad, while Blackbird paid $650,100 for the Kaleidoscope, according to Polk County property records that were filed May 25. Blackbird’s tower is bound to increase the Kaleidoscope’s assessed valuel. The Younkers site, on the other hand, had an assessed value of slightly more than $1 million.