City HallWednesday, November 4
Des Moines picks a $24 million headquarters over a $200 million performing arts plan
The Daily West Des Moines team
If you've walked past the old City Hall in the East Village, here's what's coming nearby. The Des Moines City Council voted 6-1 Monday to sell a lot at 401 Robert D. Ray Drive to Heart of America Group, which plans to build its headquarters there. Council member Mike Simonson cast the no vote.
The office deal by the numbers
- $24 million
- for the East Village office development
- $1 million
- sale price of the land
- $3.95 million
- in city tax increment financing
- 70,000
- square feet in a five-story building
Source: Business Record
The Des Moines Metropolitan Center for the Arts had proposed a performing arts center on the site, linked to the former city hall. It needed a $200 million fundraising campaign and asked the city to wait six months. City staff said the plan lacked plans for financing and support.
The arts center plan needed $200 million; the office development is $24 million
Source: Business Record
View as table
| Value | |
|---|---|
| Arts center fundraising campaign | $200 million |
| Heart of America development | $24 million |
“It's a treasure”
- Site: 0.4-acre parcel at 401 Robert D. Ray Drive
- Expected completion: 2028
- Arts center submitted its proposal: Oct. 13
- Staff also cited: new private investment and a public plaza
Sources: The Des Moines Register, Business Record