Former Younkers building sold
By: Joel Aschbrenner
The scorched former Younkers building has a new owner who plans complete the previous owner’s project converting the building into 60 apartments and refurbishing its historic tea room.
Wisconsin-based Alexander Co. sold the property to Des Moines-based Blackbird Investments this week for $2.75 million.
Blackbird plans to begin construction this summer and complete the project by spring 2016. The building will also include 11,500 square feet of street-level retail space and underground parking.
Alexander had planned to turn the six-story former department store into 120 apartments. But a massive fire in March 2014 destroyed the east half of the building and put the project on hold.
Eventually, Alexander unveiled a scaled-back plan to renovate the remaining half of the building into apartments.
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Original from The Des Moines Register.