A new buyer has emerged for a long-vacant property at the nexus of Des Moines’ Beaverdale, Merle Hay and Waveland neighborhoods, with plans to succeed where a number of other developers have failed.
The property at 1818 48th St. formerly was once home to the Mercy Franklin Clinic, which closed in 2014. After several proposals to convert the site into condominiums stalled, the city declared it a nuisance and the 3.6-acre lot was cleared in 2022.
On Friday, community development nonprofit Invest DSM purchased the property for $780,000.
The group spearheaded construction of the Commons, a 100-unit apartment building with a restaurant and retail space that will replace the deteriorated Highland Apartments
at the heart of the Highland Park neighborhood. It likewise anticipates transforming the Franklin Clinic site into a mixed-use development.
“Housing certainly is going to be a big component, most likely,” said Amber Lynch, Invest DSM’s Executive Director. “How exactly that lays out is still very much in the air.”