A $2.2 million plan to convert an 89-year-old sliver of a building at East Fifth Street and East Grand Avenue into a restaurant, a bar and a single apartment has been awarded $393,686 in state historic tax credits. 

Work is underway on developer Tim Rypma’s conversion of what opened in 1929 as Daniels Brothers Super Service Station at 440 E. Grand. In more recent times it was occupied by American Marking Inc. 

Plans call for a restaurant and bar on the first floor and a 1,400-square-foot apartment on the second floor. The Des Moines City Council has given preliminary approval to $423,000 in tax increment financing over 15 years. 

The state historic tax credit program is administered by the Iowa Economic Development Authority and the State Historic Preservation Office. A total of $19 million in credits has been awarded for 11 projects in seven cities for the registration period that ended in May, IEDA said today. The renovation of the Hotel Maytag in downtown Newton was awarded nearly $3.6 million in historic tax credits. The project is being led by Des Moines developer Jack Hatch. The next registration period for large projects is set for late fall, IEDA said. 

Rypma’s project is tucked into the east side of a block on the north side of East Grand that is set for more transformation. Nelson Construction & Development plans a $35.8 million mixed-use development and three-level, 399-stall parking garage. Read more