Hubbell finalizes purchase of Riverfront Y site

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Hubbell Realty Co. has paid nearly $4.8 million to the YMCA of Greater Des Moines for the former site of the Riverfront YMCA at 101 Locust St., according to Polk County property records that were filed today.
 
The site is a prime development location along the Des Moines River in downtown Des Moines, and its future has been the subject of much anticipation and speculation.
 
Hubbell President and CEO Rick Tollakson said last month that the company had decided to end efforts to either sell or develop the site and had notified the YMCA of Greater Des Moines that it would exercise its option to buy the property. At the time, Hubbell was said to be in negotiations with Ryan Cos. US Inc.
 
Other efforts between the city of Des Moines and Hubbell to reach a separate development agreement for the site also stalled. Tollakson could not be reached for comment today.

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