Nelson plan selected for Drake redevelopment

/wp-content/uploads/2022/11/BR_web_311x311.jpeg
Nelson Construction & Development’s proposal to build a hotel, market-rate apartments and urban-style row houses has been accepted by Drake University’s board of trustees for development of university-owned land on University Avenue between 25th and 27th streets.


The board voted Oct. 14 to accept the plan after seeking proposals for the nearly 2.65-acre site. Other proposals were submitted by Newbury Development Co. and a team made up of WesleyLife and Jake Christensen.


The university is finalizing a memorandum of understanding with Nelson Construction & Development, said Drake spokesman Jarad Bernstein.


Nelson Construction & Development’s plan includes a ground-floor restaurant with the hotel and ground-floor retail as part of the apartments.


The development site is located on the south side of University, excluding First Christian Church.


Much of the property has been empty for years, but it currently has five houses that are used for student housing and two university parking lots.


The land previously served as the home of Memorial Hall, which was built in 1905 and razed in 1996 because of age.


Neighborhood Development Corp. vetted the proposals, with Drake President Marty Martin recommending the plan submitted by Nelson Construction & Development.


In its request for proposals, Drake said it would consider three ownership options for a developer: a long-term lease, selling the developer the property outright, or Drake becoming an investor in the project. Nelson Construction & Development plans to buy the property.