City Council Moves Forward With Redevelopment Proposal For Vacant City Property In East Village

Press Release

Des Moines, Iowa- Tuesday, February 20, 2024 - 401 Robert D. Ray Drive may not stay an empty parking lot for long.

That's because last night the Des Moines City Council took the first steps forward for a development proposal for the City-owned site at 401 Robert D. Ray Drive, adjacent to City Hall.

"This is a fantastic opportunity for our city to transform an otherwise empty lot into a retail and residential hub that will add to the vibrancy of the East Village," City of Des Moines Economic Development Coordinator Chandler Poole said. "This project will continue the momentum that is in progress with multiple projects currently under construction in the East Village."

The development partnership of Gold Cap Development, Sidekick Development and Wade Investments submitted the proposal that the City Council approved. The proposed five-story building could include a mixed-use project that will have ground floor commercial and retail space as well as up to 76 residential units.

"This project will provide a combination of high residential density and dynamic retail opportunities and breathe life into a space that has been a vacant concrete pad for years," Poole said.

Following Monday's City Council vote, City staff can begin the process to negotiate preliminary terms of an urban renewal development agreement with the Gold Cap, SideKick and Wade Investment teams. City staff will negotiate the number of affordable units and the rate of affordability as well as sustainability elements that will be incorporated into the building's designs with the development team.

City Council will have opportunities to hear public comment and approve both preliminary terms and final terms at future council meetings.