Residential vacancy rates in downtown Des Moines were back to a healthier 7% in the third quarter of 2021 after a minor rise to 9.5% in the first quarter of 2020, according to CBRE l Hubbell Commercial, which tracks the market.
Expect to see a focus on new kinds of housing like townhomes for families and senior housing, as well as more green space and unique residential amenities, Nickolaus said. There also may be a push to retrofit vacant office space as residential units, she said, citing the example of a glass-walled tower in Minneapolis her company hopes to transform into apartments.
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