The slowdown in apartment construction has been most apparent in the downtown area, which extends south of Martin Luther King Jr. Parkway and east of the Des Moines River. In 2022, no new apartment units were added to downtown, the first time that has happened since 2012, according to CBRE’s report. Just one project – Hubbell Realty Co.’s five-story, 114-unit Level building at 220 Maple St. in the Bridge District – is expected to be completed in the downtown area in 2023.
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