Commercial Construction costs rise 12.8% in a year
Some projects âin jeopardy of being put on hold,â one contractor says Casey Port In December, developer Joe Cordaro received bids totaling $6.95 million for an apartment and commercial project planned on Eighth Street in West Des Moines. Three months later, the project was rebid. The cost? $7.72 million, an 11% increase from the first bid. “The cost changes were insane,” said Cordaro, principal of West Des Moines-based Benchmark Real Estate Group. “If developers can’t absorb the costs, we have to go back and reengineer the plan to cut that cost out.” The huge spikes in material costs for residential and commercial projects are affecting all sectors of the nation’s construction industry. Between April 2020 and February 2021, construction costs for nonresidential projects have increased 12.8%, according to the Bureau of Labor Statistics. The National Association of Home Builders
Installation of artwork underway on Argonne Building
Piece is nod to factory workers who once lived at historic building Wednesday, March 31, 2021 7:55 AM
The flywheel from the original elevator of the Argonne apartment building is part of the artwork being installed where a billboard once stood on top of the building at 1723 Grand Ave. in Des Moines. The artwork, called Workaday Ghosts, was designed by Peter Goche, a local installation artist, architect and educator. Photo by Joe Crimmings
For more than 70 years, a billboard sat atop the one-story annex of the Argonne building in downtown Des Moines. This week, artwork that includes the flywheel from the original elevator at the Argonne building, located at 1723 Grand Ave. in downtown Des Moines, is taking the place of that billboard. The artwork also includes galvanized pipe and copper wire, all of which is being installed on the heavy metal framework that supported the bil
Development agreements approved for 2 Highland Park projects
BY BUSINESS RECORD STAFF Wednesday, March 17, 2021 7:00 AM Development agreements have been approved with the team that plans to renovate buildings at 3523 and 3524 Sixth Ave. in Des Moines’ Highland Park neighborhood. Developers Joe Cordaro and Randy Reichardt plan to renovate the buildings, both of which are more than 100 years old and are in poor condition. The buildings anchor the south entryway into the Highland Park business district. The Des Moines City Council this month approved agreements for each building project. Under the agreement for the one-story building at 3523 Sixth Ave., the project will receive up to $534,012 in tax increment financing over 20 years. The project is anticipated to cost $1.76 million. The development agreement calls for the project at 3523 Sixth Ave. to receive up to $1.67 million in tax increment financing over 20 years. Renovation of the multistory bu
Renovation projects in Des Moinesâ Highland Park neighborhood could receive $2.2 million in financial aid Monday, January 25, 2021 3:30 PM
A $2.6 million renovation is proposed for the three-story brick building at 3524 Sixth Ave. in Des Moines. Photo provided by Polk County assessor
Proposed projects to redevelop two buildings in Des Moines’ Highland Park neighborhood would receive more than $2.2 million in financial aid from the city if the City Council today approves terms of preliminary development agreements.
The council is also expected to approve the sale of city-owned land located east of the Des Moines River in an area known as the Market District.
West Des Moines fire ruled arson; juvenile charged Friday, December 18, 2020 11:53 AM
West Des Moines firefighters worked several hours on Nov. 2 and Nov. 3 to put out a fire at a vacant office building at 1247 Eighth St. The fire was ruled arson. Photo by Emily Blobaum
A 17-year-old West Des Moines male has been charged in connection with a Nov. 2 fire that heavily damaged a vacant office building at 1247 Eighth St., West Des Moines police said.
The male, whose name is not being released because he’s a juvenile, has been charged with second-degree arson, police said. No one was injured in the fire.