Hubbell Homes Continues to Find Opportunity Downtown
 Brownstones Community Sells out before Construction is Complete


West Des Moines, IA (January 25, 2012) – Hubbell Homes’ downtown ventures continue to be successful, amid a challenging marketplace.  The company’s dynamic brownstones neighborhood has sold out, while the final phase of the community is still under construction. 

Hubbell’s downtown brownstones community consists of 43 homes and includes the Brownstones on Grand, the Riverwalk Brownstones and the Capitol View Brownstones.  The Capitol View Brownstones, the third and final phase of the community, were all pre-sold and are slated for completion in Spring 2012.  The two and three-story homes are located in downtown Des Moines on Grand Avenue, between Second and Third Streets. 

 “We’re excited when a community sells faster than anticipated”, says Hubbell Realty Company President and CEO, Rick Tollakson.   The first phase of the brownstones was constructed in 2007 and Hubbell experienced sluggish sales, due to the downturn in the housing market.  In 2010, Hubbell changed the homestyles being built, to meet the new market demands.  They began offering smaller homes than in phase one, but with similar amenities, such as private rooftop gardens.  “We saw the market changing and responded,” says Tollakson, “and our strategy proved effective, selling 25 homes in 2011 alone.”  
 
Hubbell has also had success in the Court Avenue District, at its 4th St. Condos, selling three condos already this year.  The company is optimistic about what 2012 will bring for that community, with traffic from interested buyers remaining steady, and having only 13 condos available.   “We plan to continue building in Downtown Des Moines”, says Tollakson, “with home styles that reflect what our downtown buyer is looking for”.