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D.M. City Council supports Hubbell project next to Wellmark YMCA

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The Des Moines City Council on Monday voted to support Hubbell Realty Co.’s plan for an apartment project that could generate funds for a long-sought swimming pool at the Wellmark YMCA. The City Council vote endorsed Hubbell’s application for an estimated $914,000 in state workforce housing tax credits. Under the state program, the city of Des Moines would be expected to make a local contribution of at least $1,000 per housing unit. That match could come in the form of a 100 percent abatement of property taxes for 10 years. Hubbell would pay about $1 million to the YMCA of Greater Des Moines for the property at 550 Watson Powell Jr. Way, where it plans to build the apartments, providing it wins state approval of the tax credits. Read more

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