In fall 2023, a joint venture was announced between Ruan Inc., Block Real Estate Services and Foutch Brothers to convert Two Ruan Center from office to residential.

In December, more than two years after the announcement, a building permit was issued for the project at 601 Locust St. in downtown Des Moines. During the two-year period, the development team secured financing for the project. In addition, the Ruan Center Complex, which includes Two Ruan Center, was listed on the National Register of Historic Places, a move that opens up other avenues of financial assistance.

The permit for Two Ruan Center was among 30 issued in December by Polk County and 13 area communities for new commercial projects, remodels or tenant improvements, and additions, a Business Record review shows. The permits placed the value of the projects at over $107.3 million.

When the Two Ruan Center project was first announced, developers had said construction would be completed in 2026. With the later start, the project likely will be completed in 2027. Work will include converting much of the office space into 221 multifamily units. In addition, other work will include creating fitness centers, coworking space, a bike wash and repair station, pet spa and rooftop pet park, covered indoor parking and a rooftop lounge.

Commercial uses will remain on the building’s skywalk level.

The 14-story building, whose construction was completed in 1982, has over 256,000 square feet of space.

In December, 13 permits were issued for new projects including for:

• The construction of two rowhouses at 901 SE Seventh St. The two-story, wood-frame buildings will each include 12 units. The project is being developed by Des Moines-based DEV Partners. The building permits valued the project at over $3.6 million.
• The construction of a new data center on Meta’s campus in Altoona. The data center, under construction at 940 Share Way NW by Turner Construction, will include over 270,000 square feet of space. The permit valued the project at over $18.4 million.
• The construction of a Casey’s convenience store at 2135 NE 36th in Ankeny. The retail store is being built east of Interstate Highway 80 near Costco. Permits for the project valued it at over $1.3 million.

In 2025, 165 permits were issued for new projects, a review shows. The value of the projects was estimated at over $893.3 million.