Local developer buys properties in Highland Park business district

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Local developer Brian Clark has acquired three properties in Des Moines’ Highland Park business district including a 105-year-old building on Euclid Avenue, Polk County real estate records show.

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Clark, doing business as 615 Euclid LLC, paid Legacy 515 LLC $1.25 million for properties at 615 and 619 Euclid Ave. and 618 Clinton Ave., records show.

“I’ve seen the momentum in the neighborhood,” said Clark, president of Sonar Development Partners. “I’ve been looking for buildings that could be a value add to the neighborhood.”

The Highland Park business district is mostly concentrated around the intersection of Euclid and Sixth avenues. The district, about 3 miles north of downtown Des Moines, borders the Oak Park and Highland Park neighborhoods.

The property at 615 Euclid Ave. includes a two-story brick building constructed in 1920. The structure, with over 13,000 square feet of space, is listed in below-normal condition by the Polk County assessor. The property is valued at $127,000.

The building, which has existing tenants, is being “stabilized” and “then we’ll figure out what’s eventually going to happen there. Probably a mix of apartments and retail,” Clark said.

The property at 619 Euclid Ave. includes a 1,476-square-foot structure that originally was used as a residence. The building, constructed in 1911, was converted to a medical office and multifamily housing. The property is valued at $102,300.

The parcel at 618 Clinton Ave. abuts the north property lines of the 617 and 619 Euclid Ave. properties. The Clinton Avenue property includes a bungalow-style house built in 1915. The structure is listed in below-normal condition. The property is valued at $119,600.

Clark said the house on the Clinton Avenue property may be demolished and the lot used for surface parking. “That would help solve some parking issues,” he said.

A flurry of redevelopment activity has occurred in Highland Park’s commercial district in recent years, drawing new businesses to the neighborhood. In addition, plans are progressing for the Commons at Highland Park development, a mixed-use project at Sixth and Euclid avenues.

Sonar Development Partners was selected by Invest DSM to develop, own and manage the proposed project. (The nonprofit Invest DSM is a joint effort between the city of Des Moines and Polk County to expand revitalization efforts in the city’s neighborhoods.)

Clark said he is working with Invest DSM on financing options for the project.

“It’s a challenging project,” Clark said. “We’re still moving forward.”

The transaction involving the three Highland Park properties was recorded Jan. 28.

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Kathy A. Bolten

Kathy A. Bolten is a senior staff writer at Business Record. She covers real estate and development, workforce development, education, banking and finance, and housing.

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