Downtown Des Moines office building getting $23.3 million renovation

Kim Norvell
Des Moines Register

One of the last mid-century modern International Style office buildings in downtown Des Moines is getting a $23.3 million makeover. 

Interest by potential corporate office tenants has spurred the building's owner, Knapp Properties, to invest in modernizing the building. 

The building at 611 Fifth Ave. opened in 1954 as Central Life Assurance Co.'s home office. It was later home to Aviva (now Athene) before that company moved its headquarters to West Des Moines.

The office building at 611 Fifth Ave. is undergoing a $23.3 million renovation.

The five-story property was constructed at a time when insurance company offices were springing up along the northern edge of downtown. Several have been upgraded or replaced. 

Des Moines' economic development team is excited to keep a building that is representing the mid-century style. 

"They're starting to become a bit of a dying breed downtown," said Ryan Moffatt, economic development coordinator. 

The top-to-bottom renovation will include new interior finishings, restrooms, an ADA-accessible entrance and energy-efficient LED lighting and water fixtures.

The development team will also restore a "ribbon" of windows. Part of the original design and a hallmark of the International Style, it was infilled in the 1980s. 

The speculative office building has a few tenants on short-term leases and has not identified who will occupy the building after its remodeling, said Joshua Baker, an associate with Substance Architecture. But owners hope to modernize the building in order to attract new tenants, he said. 

Des Moines City Council has approved $3.8 million in tax increment financing for the project, in part to help fund an estimated $2.8 million in asbestos remediation. 

The building is currently assessed at $690,000. Once the project is complete, it's anticipated to assess at $12 million. 

Kim Norvell covers growth and development for the Register. Reach her at knorvell@dmreg.com or 515-284-8259. Follow her on Twitter @KimNorvellDMR.

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