In fall 2023, a joint venture was announced between Ruan Inc., Block Real Estate Services and Foutch Brothers to convert Two Ruan Center from office to residential.
In December, more than two years after the announcement, a building permit was issued for the project at 601 Locust St. in downtown Des Moines. During the two-year period, the development team secured financing for the project. In addition, the Ruan Center Complex, which includes Two Ruan Center, was listed on the National Register of Historic Places, a move that opens up other avenues of financial assistance.
The permit for Two Ruan Center was among 30 issued in December by Polk County and 13 area communities for new commercial projects, remodels or tenant improvements, and additions, a Business Record review shows. The permits placed the value of the projects at over $107.3 million…