(Des Moines, IA) -- A proposed 33-story high-rise apartment building gets preliminary approval from the Des Moines City Council.
Deputy City Manager Matt Anderson said the 360 units are a nice feature of the multi-family tower, but he's more excited about 70 units of affordable housing coming with the project.
"A real struggle that we've had in Des Moines is producing those affordable housing units," said Anderson. "It's a great addition to the downtown because of the number of service industry workers in the area."
The city council approved $5.7 million in tax increment financing to support the project, as well as another $500,000 grant to help supplement the affordable housing units
Anderson said the complex is "one of those things that kickstarts that momentum" after progress downtown slowed due to COVID-19.
"You can show it to the development community that the lights are back on downtown, that things are moving," said Anderson. "It's kind of a generational opportunity to change your skyline. We don't get to add those types of projects very often, so I think it's something we'll all be proud of."
The high-rise would be built on the vacant east half of the Kaleidoscope Mall, near Walnut and 5th Avenue.
Anderson said the city council will take a final look at the agreement early 2023. If approved, construction is expected to start in the spring.