City approves industrial site for residential construction
Vacant land that was slated for the development of industrial buildings on Des Moines’ East Side could become the site of 210 homes following a property owner’s request to amend a planned unit development.
Mike Ludwig, planning administrator with the city of Des Moines, said the City Council approved Baker Real Estate LP’s request to change the future land use designation of 23 acres near 4500 Hubbell Ave. to medium density residential from general industrial.
CFI Sales Inc. had hoped to construct an approximately 166,000-square-foot industrial building in what had been dubbed Cold Stream Business Park, which was born in April 2009 when Baker Real Estate received preliminary approval to subdivide a 50-acre parcel into nine lots for commercial development.
But following financing issues that derailed CFI’s plans to anchor the park, Baker Real Estate is now considering the development of six 30-unit apartment buildings and 15 duplexes.
The site is located in a 412-acre tax-increment financing district, which was established in October 2010 as part of Northeast Economic Development District Urban Renewal. The Northeast Hubbell Avenue corridor stretches to Interstate 80 to the north and Altoona to the east.
According to city records, the primary goals of the plan include increasing the city’s tax base, providing employment opportunities and encouraging commercial and light industrial development within the plan area.