The Des Moines City Council has moved ahead with approval of a preliminary Urban Renewal Development Agreement for the redevelopment of the old Nichols & Shepherd agricultural equipment warehouse on Southeast Fourth Street.
Rypma Properties has proposed converting the warehouse, where agricultural threshing equipment was once made, into high end apartments. The estimated cost of the project is $13.7 million.
The council approved a resolution approving the preliminary terms of an agreement with Rypma Properties during its meeting on Monday. The vote came two weeks after the proposal was removed from the agenda because of uncertainty about a recently passed property tax reform bill in the Legislature…