In 2015, staff developed an RFP seeking proposals for the redevelopment of City owned property located at 719 SW 3rd Street in Uptown.  After extensive direct mailings to developers in and around the Des Moines Metro and news coverage of the project, four proposals were submitted. At its August 17, 2015 meeting, the Council selected Uptown Ankeny Partners, LLC as the preferred developer for this redevelopment project. 

Since this time, the developer has worked to secure financing to complete this project, while the City has prepared the property for redevelopment by removing the dilapidated buildings.  The developer is prepared to begin construction this fall on an approx. $4 million, 3-story, 36 unit residential building with first level live-work units.  Staff is currently working through the details of the development agreement with the developer.  A public hearing on the sale of City owned land and the development agreement is required.

The City intends to sell City owned property and require, through a development agreement, the buyer to make a significant investment in redeveloping the property into a mixed-use residential building with surface parking.  The details of the agreement are still being worked out, but are expected to include the developer investing approx. $4 million in the property and the City adding public infrastructure improvements (angle parking) in front of the property along SW 3rd Street.  The property is currently tax exempt, but is expected to have an assessed value of approx. $2.8 million upon project completion.   

At it's August 17, 2015 meeting, the City Council selected Uptown Ankeny Partners, LLC as the preferred developer for this project.