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Market Place Lofts to Officially Open with Ribbon Cutting Today

DES MOINES, Iowa (February 5, 2008) – Hubbell Realty Company announced that its fourth downtown living opportunity, the Market Place Lofts located at 316 Court Avenue in the historic Court Avenue District, will have a grand opening today at 4:00 PM. Appetizers from Dos Rios Cantina and Tequila Lounge, the ground floor restaurant in the Market Place Lofts building, will be served prior to the 4:30 PM ribbon cutting. Attendees and speakers include Mayor T.M. Franklin Cownie, City Manager Rick Clark, Des Moines City Council Member Christine Hensley, Iowa Finance Authority executive director Bret Mills, Hubbell Realty Company president and CEO Rick Tollakson, and Scott Stroud, the head chef at Dos Rios and a Market Place Lofts resident. The 52-unit rental apartments featuring one and two-bedrooms are one of downtown’s most affordable options beginning at $570 per month. The Market Place Lofts puts residents in the heart of the Court Avenue District in a new building that while modern, blends seamlessly with the surrounding historic buildings. The 650 to 1,050-square-foot apartments feature contemporary floor plans, expansive windows capturing great city views, and every unit has an outside entrance to a balcony. Other amenities include a fitness center with the latest workout equipment set before floor to ceiling windows, a community room equipped with a kitchen and big screen HDTV, the option of in-unit laundry, on-site parking availability, and a business center. The apartments were designed by GE Wattier Architecture, Inc. and constructed by Hubbell Construction Services. This 52-unit apartment building above Dos Rios is part of a larger project including the 51 apartments at Court Avenue Lofts located above the Spaghetti Works building and the 4th Street Condos, a 46-unit condominium building currently nearing completion directly south of the Market Place Lofts. “Hubbell Realty continues to provide exciting options for urban living in Des Moines. There was no question that these units would lease up fast, and they are already going at a faster rate than our Court Avenue Lofts did next door,” said 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 Market Place Lofts, as well as our numerous other downtown housing developments, including the Court Avenue Lofts, Hubbell Tower Apartments, the Brownstones on Grand, and soon the 4th Street Condos, West End Lofts, and Midtown Heights.” All seven of these projects have been opened or will open within a three-year period. For leasing information on the Market Place Lofts, visit the leasing office at 308 Court Avenue, or call BH Management Services at 515-953-5090 or visit the Market Place Lofts on the web at www.desmoinesdowntownliving.com/marketplace. Those attending the ribbon cutting may enter either from the 4th Street entrance, or from the parking lot located directly behind the building.

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