Hubbell completes purchase for historic rehab of Lovejoy Building

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A downtown building that you could drive a Mack truck through has been sold to Hubbell Realty Co., which plans a $7.3 million historic renovation that includes 30 apartment units.

 

The two-story Lovejoy Building at 121 12th St. was built in 1924 for Mack Truck Inc. It will be renamed Station 121 and converted to micro and up to three-bedroom apartments while retaining exposed brick and expansive windows.

 

The building has been owned for several years by Don Walsmith Jr., and prior to the recession there were plans to convert it  into a multipurpose music venue.

 

According to a city of Des Moines report, Hubbell is seeking $510,520 in state workforce housing tax credits and a 10-year, 100 percent tax abatement that would total $856,592.

 

Hubbell also plans to start construction this summer on a new apartment building that will be called Dwell. The site is a Hubbell-owned lot at 206 Ninth St., directly across Mulberry Street from the Des Moines Social Club. Hubbell has received $792,147 in workforce tax credits for the $8.3 million project that calls for 62 apartments. In addition, the project would quality for a 10-year, 100 percent tax abatement that could add up to $1.4 million.

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