Randy Reichardt, who owns RWR Development, plans to renovate the building, which is included on Des Moines’ list of nuisance properties.

“This building has sat pretty much unused and vacant for the last several years,” Carrie Kruse, Des Moines’ economic development coordinator, told the board.

In recent years, paint has been removed from the building’s brick walls and windows have been replaced, she said. However, both asbestos and lead-based paint remain in the building, which will be addressed during the renovation, according to a city document.

In addition, “there still remains quite a bit of some pretty major deferred maintenance as far as the roof is concerned,” Kruse said.

The roof, which is being repaired, will be designed to accommodate a solar array that will reduce the building’s energy usage, according to a city document.

The building likely will be designed to accommodate two tenants, one of which may be a restaurant or coffee shop. Outdoor patio seating is planned. Pots filled with plants will line the patio areas to meet the city’s requirement for greenery. An area for bicycle storage is also planned.

“It’s really great to see this building come back to life,” said board member Carey Nagle, a local architect.

The original tenant of the building was a lithograph printing business that needed a lot of natural light, Reichardt, who researched the building’s history, has said. A portion of the south side of the building is all glass with steel-sashed windows. Also, a portion of the roof is raised – resembling a sawtooth – with windows on the north side.

The property is currently valued at $147,000. When the renovation is completed, the property’s value is expected to increase to over $2.1 million, a city document shows. The property is expected to generate $1.9 million in property tax revenue over 20 years after the renovation.

Without the improvement, the property would generate $158,900 in property tax revenue, city officials estimate.

Construction is expected to begin later this year with completion by spring 2022.