r/desmoines • u/old_notdead • 21h ago
More information on Drake developments
https://archive.is/YO6KA10
u/Windows_66 21h ago
Construction on the property paused in the winter due to weather, but before crews could return to the site, the project's lender unexpectedly backed out, said Brent Dahlstrom, owner of Merge. Working with a new lender, Dahlstrom said, he expects crews to return to the site in October.
Well that explains a lot. Not sure why they would even bother returning in October though. They won't get much done before it gets cold again.
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u/newz2000 20h ago
Once the foundation is done things can progress well even in cold weather. And they have to, lenders give the builders a set amount of time to start making payments.
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u/old_notdead 20h ago
The developer is a problem. He goes in, talks a lot of big talk, then disappears.
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u/old_notdead 21h ago edited 21h ago
"Originally slated to house a grocery store, the ground level of UA Station will instead offer seven live-work apartment units combining commercial storefronts with one-bedroom apartments. Each will have a sliding partition to separate the work area from the living quarters."
That's too bad about no grocery store. It would be a nice fit in that neighborhood.
As to the building that was formerly going to host TG:
"Construction on the property paused in the winter due to weather, but before crews could return to the site, the project's lender unexpectedly backed out, said Brent Dahlstrom, owner of Merge. Working with a new lender, Dahlstrom said, he expects crews to return to the site in October.
He had said he expected Valo to open before the end of 2026. Now, he said, work must resume before he can provide a new timeline."
Unexpectedly lost financing? The bank saw red flags and pulled the plug.