Land sales proceeds would benefit Southwest Ninth Street upgrades
KENT DARR Oct 12, 2015 | 3:53 pm
1 min read time
234 wordsAll Latest News, Real Estate and DevelopmentThe Des Moines City Council is expected to set an Oct. 26 hearing date for the sale of a city-owned lot to Hurd Real Estate Services Inc. for a retail development at the northeast corner of Army Post Road and Southwest Ninth Street.
The city has agreed to sell the land to Hurd Land Co. LLC for $260,000, with $40,000 returned to the buyer in the form of an economic development grant. The remaining balance, $220,000, will help fund city efforts to revitalize Southwest Ninth.
Hurd Realty Services and the city have been working since 2008 to come up with a development plan for the intersection. Hurd owns and has cleared adjacent properties at 812 Lally St. and 6305 S.W. Ninth St.
According to a deed filed in 2014, the city paid $220,000 to Clear Channel Outdoor Inc. for the lot at 849 Army Post Road that it plans to sell to the development company, which is expected to submit a development plan by Dec. 31.
In August, company president Richard Hurd said he will market the property to retail clients such as fast-food restaurants and bank branches. Read more atBusinessRecord.com.
In the 1970s and 1980s, Hurd owned several properties in the area. He has cleared a building that once housed a Mama Lacona’s pizza shop, a building where he also once had an office.
Read more about efforts to revitalize Southwest Ninth on BusinessRecord.com.
Trending News
