Navigating the New Des Moines: A Buyer’s Guide to Downtown’s Development Boom

The Des Moines skyline is being reshaped by a wave of new housing projects that promise to add hundreds of units to the city core. For buyers entering the market now, understanding the scale and timing of these developments is essential to making informed decisions.

The Big Build

Groundbreaking for the 1435 Mulberry project took place in July 2025. The $56.6 million workforce housing development will bring over 200 units to downtown, with completion expected in spring 2027. Simultaneously, construction began in spring 2026 on the Foundry Lofts at 509 SE Sixth St., a $15 million, four-story, 46-unit affordable apartment building scheduled for late 2027. The 33-story high-rise at 515 Walnut St. is also under active construction, with foundation work that started in January 2026. Combined, these projects represent a significant increase in downtown housing supply, offering new options for buyers who want to live near the city’s restaurants, offices, and cultural venues.

What This Means for Buyers

For someone looking to purchase a home in Des Moines, the influx of new units could shift pricing dynamics. Workforce housing projects like the 1435 Mulberry and Foundry Lofts are designed to serve households earning moderate incomes, potentially providing more attainable entry points. The city’s development services department tracks these projects as part of its economic development listings, giving buyers a public source to verify timelines and affordability requirements. The city also maintains a listing of downtown development updates through the DSM Partnership, which can help buyers identify which projects are genuinely under construction versus those still in planning.

One important consideration for buyers: many of these projects will not be move-in ready until late 2027 at the earliest. That means current market conditions may continue to reflect the existing housing stock for another year or more. Buyers should not expect an immediate drop in prices simply because a groundbreaking has occurred. Instead, the supply increase is a medium-term factor that could ease pressure on rents and sale prices once units actually deliver.

Practical Advice

Given the timeline, buyers who want to take advantage of the new developments should plan ahead. Pre-leasing and pre-sale opportunities for projects like 1435 Mulberry and the Walnut Street high-rise may open a year before completion. Registering interest with developers or checking the city’s permit records-permits for 11 new commercial projects were issued in the Des Moines area in January and February 2026-can give buyers an early look.

For those needing housing sooner, the existing market in neighborhoods like the East Village and Market District remains active. Buyers should also consider that workforce housing units often have income caps, so eligibility may be limited. Consulting a local real estate agent who tracks these projects can help navigate both the immediate market and the pipeline of future supply. With spring 2027 as the earliest major delivery date, the next 12 months are a critical window for planning.

This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.