Walking through the Fleming Building in downtown Des Moines, Mike Nelson says the new apartments’ living space will be larger than in the developer’s earlier projects, making up about half of each unit.
Surveys of existing tenants show renters, in their 20s and 30s, “want to stay connected,” said Nelson, who is redeveloping the 102-year-old building into 95 market-rate apartments. They want space where they hang out with friends, rather than in kitchens and bedrooms. “They’re interested in living efficiently,” he said.
Across the state, historic renovation projects like Nelson’s are getting a boost from an expanded tax credit that’s been quickly tapped out.
