DES MOINES – Hubbell Realty is launching construction of a second group of downtown brownstone homes in a development that already includes the Brownstones on Grand, a company executive said today.
Steve Niebuhr, Hubbell Realty Co. senior vice president of construction and development, said earthwork is already underway for the first of four four-home buildings to be named the Riverwalk Brownstones between Second and Third streets at Powell Way. The homes, which will be smaller than the Brownstones on Grand and offer a lower price range, will have the brick and exterior design of traditional urban brownstones.
“We had tremendous success with the Midtown Heights community at MLK and High Street because it combined urban living with an attractive price point. That’s what you’ll see with the Riverwalk Brownstones,” Niebuhr said. “They’ll be a little over 1,400 square feet and their price range will be from $193,900 to $198,900. They’ll complement the Brownstones on Grand so potential downtown residents have a real range of options.”
The two-story Riverwalk Brownstones are the only downtown properties to offer two- or three-bedroom brownstones and two-car attached garages. The brownstones have the equivalent of a 10-year tax abatement, a feature that was also a strong attraction for Midtown Heights buyers.
“The tax abatement allows buyers to get more for less,” Niebuhr said. “In this case, when potential buyers run through the numbers, they’ll see the abatement will make the cost of a Riverwalk Brownstone equal to a row home or townhome in the suburbs.”
“Brownstone residents who work downtown can walk to the office and all the activities going on and they also have easy access to I-235 if they work in the western suburbs and take the ‘reverse commute’ to work,” Niebuhr said.
Hubbell Realty Co. has been a staple in the Des Moines real estate market for over 150 years. Its superior craftsmanship and meticulous attention to detail has established its reputation for excellence and value. Buildings that Hubbell has constructed for over a century remain prominent throughout the Des Moines metro today.
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