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First Downtown Housing Units Developed by Hubbell Realty Company Now Leasing

DES MOINES, Iowa (January 18, 2006) – Hubbell Realty Company announced today that its first downtown housing units located at 904 Walnut in the historic Hubbell Building are now leasing. The 72-unit rental apartments featuring one and two-bedrooms are one of downtown’s most affordable options beginning at $595 per month including all utilities. Nearly 30% of the units have already been leased with the first residents moving in on January 28. These apartments are the first and only affordable apartments on the skywalk in downtown Des Moines. Recently named to the National Register of Historic Places, the Hubbell Tower Apartments put residents within steps of local attractions such as the Kaleidoscope at the Hub, Raccoon River Brewing Company, Centro and the Temple for the Performing Arts. The 600-to-750-square-foot apartments feature contemporary floor plans with unique angles, exposed concrete columns, expansive windows with great views of the city. The apartments were designed by GE Wattier Architecture, Inc. and constructed by the general contracting firm of Venter Spooner Inc. Other amenities include a business and fitness center, skywalk access, large windows overlooking the city, and a community room equipped with a large screen TV and lounge area. “It is very important to everyone at Hubbell Realty Company to provide affordable housing options that feature the latest elements of urban design in downtown Des Moines,” states Rick Tollakson, President and CEO of Hubbell Realty Company. “To increase housing overall downtown, it is critical to have a depth of offering. We are committed to that through the Hubbell Tower Apartments, as well as our numerous other downtown housing developments, including Court Avenue and the Brownstones on Grand.” A public “sneak peek” tour will be held on Thursday, January 19 from 11 AM – 1 PM and 4 PM – 6 PM where visitors can view a furnished model as well as register for such prizes as an iPod and gift certificates to downtown establishments. An official ribbon cutting ceremony will be held at 4 PM on Wednesday, February 15. For leasing information on the Hubbell Tower Apartments, visit the leasing office at 904 Walnut on the skywalk level, or call Michelle Freund at Professional Property Management at 515-369-2345 or visit the Hubbell Tower Apartments on the web at www.hubbelltower.com.

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