VA. Developer Eyes Historic Downtown Des Moines Building

Tools

By Becky Ogann

Story Created: Jul 17, 2008 at 9:46 AM CST

Story Updated: Jul 17, 2008 at 9:49 AM CST

DES MOINES (AP) - A Virginia developer has expressed interest in purchasing and renovating the historical Younkers store in downtown Des Moines. It's been vacant since Saks closed it in 2005.

Developer Michael Alexander signed a proposal to buy the 288,000-square-foot property from owner Saks Inc. earlier this year. He hopes to fix up the 109-year-old building and put in a hotel, retail space and residential units.

Alexander says the sale will ultimately hinge on complicated financing that would include state, federal and local tax credits or incentives. He says he's hopeful a sale can proceed to a closing, possibly as early as September.

Next Article Most Cedar Rapids Police Cars Missing Dash Cameras During Upgrade

Conversation Guidelines

Be Kind

Don't use abusive, offensive, threatening, racist, vulgar or sexually-oriented language.
Don't attack someone personally. Keep it civil and be responsible.

Share Knowledge

Be truthful. Share what you know and what you are passionate about.
What more do you want to learn? Keep it simple.

Stay focused

Promote lively and healthy debate. Stay on topic. Ask questions and give feedback on the story's topic.

Report Trouble

Help us maintain a quality comment section by reporting comments that are offensive. If you see a comment that is offensive, or you feel violates our guidelines, simply click on the "x" to the far right of the comment to report it.

read the full guidelines here »

Commenting will be disabled on stories dealing with the following subject matter: Violent crime, sexual abuse, Amber Alerts, Operation Quickfinds and suicides.