
The Capitol Village Loft building, located in the heart of the East Village, at E. 5th and Locust, is a mixed use project that has retail and offices on the first floor, and 20 residential condos on the second and third floors. Converted from apartments, this project was targeted at first time buyers that were seeking urban living at an affordable price and has set the standard for downtown Des Moines lofts. The residential condos ranged in size from 535 square feet to 1,470 square feet, and prices started at $102,000. Only four of the 20 condos were in excess of $150,000. Most of the condos had a lot of exposed brick and all had high ceilings.
This project was unique in that the commercial and retail spaces were sold off as commercial condos. Owner operators purchased their respective space, or an investor was located that purchased the space and created a lease with the prospective tenant. Today, retail tenants include a hip ladies clothing store, an upscale contemporary furniture store, and soon a village market.
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