DES MOINES — Work has begun to transform a historic downtown Des Moines department store into apartments and retail space.
On Tuesday, a block of Walnut Street was closed and fences were going up to enable work to begin on the $36 million renovation of the Younkers Building. The 114-year-old department store has been vacant since it closed in 2005.
Madison, Wis.-based developer Alexander Co. is getting about $15 million in state and federal historic tax credits for the project.
Work is expected to be completed in late 2014. Walnut Street likely will remain closed until next summer.
When finished, the building will house 120 residential units for lower-income tenants and two floors of retail space.
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