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CRE forum panelists discuss the pandemicâs affect on commercial, residential development Monday, April 26, 2021 11:46 AM
There’s little doubt that the pandemic has had a wide-reaching effect on the commercial and residential real estate and development landscape.
On Thursday during the Business Record’s annual CRE virtual forum, eight panelists described how the pandemic has affected the various sectors of the construction and development industries and the outlook for the next year. Topics touched on included financing of proposed projects, changes occurring in offices to make environments safe for workers, rising costs and availability of construction materials, and housing affordability.
The city of Des Moines now officially owns an 11-story parking garage that s part of embattled project The Fifth, which was in foreclosure after the developers failed to pay a construction loan.
A $42 million purchase agreement was finalized last week, according to documents filed with the Polk County Recorder s Office. With this action, the foreclosure petition against the developers, brothers Justin and Sean Mandelbaum and their company, Mandelbaum Properties, has been dropped though legal wrangling over other, undeveloped land on the site continues.
The 751-stall garage, located on Fifth Avenue between Court Avenue and Walnut Street, was the first of three buildings, including a 40-story skyscraper and a three-story movie theater, planned for the landmark development.
Judge: City can buy downtown Des Moines parking garage Thursday, January 21, 2021 11:20 AM The city of Des Moines can purchase a beleaguered downtown parking garage located at Walnut Street and Fifth Avenue, a Polk County District Court judge has ruled.
The structure has been at the center of two court proceedings: a foreclosure petition and a claim by the parking garage’s original developers that the city reneged on its development agreement with them.
Earlier this month, the city offered to buy the 751-space garage for about $40.6 million. The purchase price is dependent on the final tabulation of interest and fees.
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By allowing ads to appear on this site, you support the local businesses who, in turn, support great journalism. Council names Cauley public works chief Cauley has worked for a year as assistant Pictured is the City of Great Bend logo approved Monday night by the City Council.
The Great Bend City Council Monday night appointed Jason Cauley as director of Public Works. The action followed a 20-minute executive session.
Cauley has served the past 12 months as assistant public works director, City Administrator Kendal Francis said. “During that time, he has immersed himself in the department, overseeing its day-to-day operations, with little supervision needed.”