Developer Joe Cordaro is buying a three-story brick apartment building that has stood on the southwest corner of Sixth and Euclid avenues since 1915. The photo below is of 3523 Sixth Ave., which Cordaro also has under contract to purchase. Photos by Polk County Assessors office

The purchase and renovation of two dilapidated buildings along Sixth Avenue in the Highland Park business district will add to the revival already occurring in north Des Moines neighborhood, said a developer who is buying the structures.

This is an opportunity for us to amplify what is already happening in the neighborhood,” said Joe Cordaro, principal of Benchmark Real Estate Group, based in West Des Moines. “This is our chance to continue investing in the neighborhoods.”

Cordaro, who grew up in the area, has under contract to purchase properties at 3523 Sixth Ave. and 3524 Sixth Ave. He said the transactions are scheduled to close in mid-December.

The two buildings anchor the south entryway into the Highland Park business district, an area located about 3 miles north of downtown that once bustled with activity. In recent years, many storefronts have become vacant and fallen into disrepair.

However, a revival of sorts is occurring in the area.

The Hiland Bakery, which closed a year ago, reopened in January under new ownership. Des Moines Mercantile opened at 3707 Sixth Ave. The Slow Down Coffee Co. is slated to open this summer at 3613 Sixth Ave.

“You would have a hard time finding a block anywhere in Des Moines, including downtown and East Village, that has that much activity going on right now,” Cordaro said.

In fall 2019, the Des Moines City Council selected four pilot areas – Oak Park/Highland Park, Beaverdale, Drake and McKinley – in which to begin a concentrated effort to rejuvenate neighborhoods and the business districts within them.

In addition, neighborhood leaders are working to strengthen the business district by allocating money to update building exteriors and find ways to attract new businesses and keep existing ones. Plans are also underway to redesign Euclid Avenue between Second Avenue and 12th Street by reducing vehicle travel lanes from five to three and adding bike lanes and on-street parking.

Cordaro said he is pursuing state and federal historic tax credits to help defray some of the costs of renovating the two buildings, both of which are in disrepair.

The three-story building at 3524 Sixth Ave. was constructed in 1915. The upper two levels include 12 apartment units. The ground level has had several retail businesses over the years, including a pawn shop and laundry.

The apartment units will be renovated and updated with modern amenities, Cordaro said. The plan is to offer affordably price leases.

The neighborhood has affordably priced single-family houses but lacks studio apartments, he said. “This will add to the mix of housing available in the neighborhood.”

The ground level will be renovated for retail uses, said Cordaro, who also is renovating the Argonne Apartment building at 1723 Grand Ave. in Des Moines.

The single-story building at 3523 Sixth Ave., built in 1929, fronts both Euclid and Sixth avenues. The 8,870-square-foot structure has had multiple tenants over the years, including a bank, jewelry store, cafe and barber shop.

Cordaro said retail spaces will be offered in the building once it is renovated;

He estimated the renovation projects could cost about $4 million. He said he expects the work to be completed by late 2022.

PHOTO ABOVE: A photo taken of the interior of 3524 Sixth Ave. shows the building’s disrepair. Photo by Joe Cordaro

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