Blackbird Investments will decide by the end of the month whether to proceed with plans to enter a partnership with Alexander Cos. in the redevelopment of the former Younkers downtown, go it alone or walk away from the project, which has stalled after a fire March 29, 2014.

The western portion of the property, including the fabled Tea Room, was all that was left standing in the wake of the fire and has since been renamed the Wilkins Building. Blackbird hired Neumann-Monson Architects to assist with the due diligence, and Weitz Co. has put the project out for bid.

“The immediate focus will be on the Wilkins Building and what it will take to restore the Tea Room. If the team moves forward, we will turn our attention to the empty ground towards the end of the year,” Blackbird partner Justin Doyle said in an email.

Meanwhile, Blackbird hopes to close in early July on the purchase of the Clemens Building at 200 10th St. from Jeff Hunter’s Principiant Hotel Co. LC. The Clemens Building is attached to the Hotel Fort Des Moines. Hunter sold the hotel earlier this year.

InVision Architecture is assisting with the due diligence phase of that project, which Blackbird currently plans as a mixed-use development with 44 market-rate apartments. The six-story structure will have apartments, including some sharing ground-floor space with retail units, Blackbird partner TJ Jacobs said in an email.

“The initial project plans went to bid in late May. We are still obtaining construction numbers, but remain confident that we will close in the first half of July,” he said.