County seeks to redevelop courthouse parking lot
Michael Crumb Sep 11, 2024 | 6:00 am
2 min read time
512 wordsAll Latest News, Real Estate and DevelopmentPolk County is seeking proposals to redevelop its parking lot at Cherry Street and Fifth Avenue downtown in hopes of creating a multiuse link between the Court Avenue District and other yet-to-be-developed properties to the south and west.
The county initially issued a request for proposal last spring but after not receiving much response, it reissued the request a few weeks ago, said Sarah Boese, deputy county administrator.
Boese said she has since had calls with local and out-of-state developers and expects proposals to be submitted by the end of September.
The Polk County Board of Supervisors will need to approve the sale or transfer of land to a new owner and sign off on development, but there is no specific timeline for that to happen, she said.
“We have no reason to delay it or have a knee-jerk reaction, our priority is making sure it’s a quality development that contributes to what is happening downtown and making it a vibrant energetic place,” she said.
The county owned most of the site that had been used for parking at the courthouse. One little chunk was owned by someone else, and when it came up for sale, the county bought it in 2023 to complete the approximately 2-acre site.
“We thought that we just needed to square out this block and make it whole so at some point we could redevelop it,” Boese said.
The surface parking lots have been identified by developers and others as the next place to watch for development in downtown Des Moines.
The county engaged neighborhood stakeholders to help develop a vision for the site, Boese said.
“It’s a prime piece downtown,” she said. “There’s nothing this close to Court Avenue that’s available. We want to make sure that it’s something active that can see foot traffic from Court Avenue and look at it as a connection to future development of vacant lots to the southwest as well.”
According to the RFP, the goals of redeveloping the site include creating ground-level retail, affordable housing, family friendly entertainment, green space, an indoor park, creating an artistic or cultural activity center and having rooftop amenities.
Because it’s a former industrial site, brownfield or grayfield tax credits may be available, and other incentives could include a commercial property tax rebate or tax increment financing.
Current zoning allows for mixed-use development and structures up to eight stories. The parcels could be combined or remain separate, according to the RFP.
“Polk County … will price the full lot extremely competitively to market rates with the possibility of additional incentives to encourage collaborative and creative placemaking proposals that help address the critical needs of downtown, including housing, green space and family friendly entertainment,” the RFP states.
Michael Crumb
Michael Crumb is a senior staff writer at Business Record. He covers real estate and development and transportation.