Mixed-use complex represents latest workforce-housing development for burgeoning Des Moines community; project owners, designers adding 125 units of market-rate apartments, robust amenities to transit-rich neighborhood
DES MOINES, Wash. (June 17, 2022) – GIS Development Corp. and New Core Development recently submitted a land-use approval application to the City of Des Moines for a new 125-unit mixed-use apartment project located just a block from Pacific Hwy. S. — at the corner of S. 230thSt. and 30th Ave. S. The joint-venture development, designed by award-winning IHB Architects, is slated to break ground next spring.
“We’re pleased to collaborate with the City of Des Moines on bringing much-needed market-rate housing to this dynamic, fast-growing community,” said Eugene Gershman, CEO at GIS Development Corp., one of the region’s most experienced real estate development and commercial-building companies.
“We anticipate delivering this perfectly located building in just a couple of years, which we believe is ideal timing given growing local demand for these types of apartments,” Gershman added.
Headquartered in Redmond, GIS will also serve as general contractor on the project. Its partnership with New Core Development will bring best-in-market capabilities to Des Moines, with each company featuring a deep portfolio in mixed-use development. GIS and IHB Architects recently partnered on Madison Plaza, a 157-unit mixed-use apartment building in Kent due for completion later this year.
“This project is a rare opportunity to develop market-rate apartments in a community offering a central location, robust retail corridor, and multi-modal transit network,” added Dan Jenkins, principal at New Core Development. “Our partnership with GIS and IHB represents the first of hopefully many mixed-use developments in Des Moines in the future.”
Jenkins founded New Core Development more than a decade ago with a focus on urban-infill projects. He and long-time New Core investment partner and commercial real estate broker Dan Stutz have developed several notable Seattle-area real estate projects over the past 20-plus years, including Kirkland Center Pointe, the Elysian Brewing Co. expansion in the Georgetown neighborhood, and Lake Union Landing, a project near downtown Seattle featuring 18 well-appointed residential units and a host of on-site community amenities.
The new Des Moines transit-oriented development will feature six stories of state-of-the-art workforce apartments; one below-grade parking level for residents and guests; a ground-floor residential lobby and commercial fitness center; a community lounge area; and various rooftop amenities including an outdoor BBQ and resident gathering area. The project will also have panoramic views of Puget Sound, and the Olympic and Cascade mountain ranges.
Unlike most other apartment projects in the area, GIS and New Core are developing this building to include a generous number of 1- and 2-bedroom units, reflecting rising demand in the region for larger, more-spacious apartment homes.
“We’re designing this building with today’s discriminating renter in mind,” stated Imad H. Bahbah, AIA, principal at IHB Architects. “We believe this will raise the bar for sophisticated, sustainable apartment-living in Des Moines for years to come.”
About GIS International Group
GIS is a privately owned and operated group of construction, design, and development companies dedicated to creating dynamic, sustainable projects on commercial and residential sites. Headquartered in Redmond, Washington, GIS provides turnkey construction and development solutions, as well as project consulting and owner representation, to partners and clients throughout the Puget Sound region. GIS prides itself on its efficient, high-quality production and its deeply experienced team delivering project value across various industries and geographic boundaries.
About New Core Development
New Core Development was founded in 2012 by industry veteran Dan Jenkins, one of Seattle’s most accomplished real estate developers over the past 30 years. The company focuses on infill-development projects in high-value core areas of the Puget Sound marketplace. New Core specializes in a wide range of product types — including mixed-use apartments, industrial, retail, Class A office and for-sale condominiums and townhomes, to name just a few. Jenkins is registered for development in Washington state, Texas, and Florida.
About IHB Architects
IHB Architects strives to enhance communities with vision, innovation, compassion and economic vitality. The company is empowered by the ability to help individuals, developers and businesses to succeed. IHB’s understanding of sustainable design methods, ideas and materials allows it to offer any level of sustainable-design features that is within reach of the client’s budgetary constraints.