Vine Street Lofts

Type: New Construction
Role: Developer, Owner, Manager
Building Space: 109 Total Units: (65 Market-Rate Units, 44 Affordable Units, 32 Condominiums)
Financing: HUD, Fannie Mae, City of Des Moines, Polk County Housing Trust Fund, Neighborhood Finance Corporation, Federal Low Income Housing Tax Credits, Tax Abatement
Location: Des Moines, IA
Year Completed

Overview / Details

Completed in 2004, Vine Street Lofts and its sister condominium project, Water Street Brownstones, were the first significant new construction residential projects in Des Moines in over 20 years.

Located on a prime site overlooking the Des Moines River, the parcel had been a surface parking lot for decades.

Selected through a competitive proposal request process, Sherman Associates and partner Lander Urban Development introduced a model that was untried in Des Moines’ high-end home ownership opportunities; market-rate rental units and affordable rental units on the same block sharing the same underground parking system.

The project is a resounding success and is considered the project that jump-started the downtown housing market.

Vine Street Lofts’ location offers quick access to downtown Des Moines as well as the Court Avenue District, Principal Park and Downtown Farmers’ Market. Des Moines’ skyway is also easily accessible.