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Downtown high rise advances with $107 million price tag in Des Moines






Details have been hammered out for Des Moines’ next skyscraper.

For the price of $107 million, Justin Mandelbaum will transform Des Moines’ core entertainment district with a 32-story high-rise. It’s called The Fifth, and it will combine a movie theater, a climbing gym, day care, nightlife venues and a parking ramp below luxury apartments.

The massive project, which was announced in July, put a stake in the ground Monday with a preliminary agreement approved by the Des Moines City Council. The plan includes a stack of agreements and various city contributions expected to reach $25 million over the next 20 years.

City officials praised the substantial downtown investment by a local developer. They rattled off a series of needs that the private project addresses, including public parking, at Court Avenue and Fifth Street — adjacent to the downtown Hy-Vee grocery store under construction.

“I would say tonight is really the biggest hurdle for the project,” Mandelbaum said Monday.

The Fifth will bring a nine-screen, upscale movie theater with recliner seating and a new restaurant to Court Avenue.

Main Street Theatres, known for the Aksarben Cinema in Omaha, is the proposed operator of the theater. The same business is slated to run the restaurant, which will serve the theater and nonmoviegoers.

A jazz club is planned for the opposite side of the building, on Walnut Street.

Mandelbaum said he cannot yet name the operator of the rock-climbing facility, but preliminary plans for a climbing wall have evolved: “Climbing enthusiasts will be excited when we’re able to announce.”

The project will add 200 market-rate apartment units, ranging from studios to three-bedroom units, and 20,000 square feet of commercial space downtown.
 

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Pro Web Slinger
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Glad to see another new skyscraper for another midwestern city. Hope this one gets off the ground soon!
 

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More details on this project in the article below, including the complex financial assistance package proposed by the city in the development agreement. The developer mentions he has financing for a portion of the project but is still securing it for the tower. He has letters of intent from a hotel developer and theater operator, and a top-notch high-rise architect hired to do the job. Obviously still a big risk in a market this small, but they're making some moves to build confidence.

http://www.desmoinesregister.com/st...craper-the-fifth-climbs-39-stories/698883001/

Also, demolition of the existing parking garage on this site has started.




 

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Build Higher and Higher
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The Fifth | Des Moines's 3rd Tallest (Est 2020)

This thread is dedicated to the construction news and pictures of the up coming high-rise "The Fifth" which will be constructed by the Polk Co Courthouse in Des Moines, IA


Follow our Instagram account @DesMoinesPhotos
To be completed in 2021:


This is the progress as of March 15, 2015:
 

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Build Higher and Higher
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Here is an update of the construction. I work for the company who is building it.

This is as of May 10, 2019!


This is looking from the north of the project.

This is looking from the east:


Follow my Instagram account www.instagram.com/desmoinesphotos
 
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