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Keeping an eye on development

Posted February 11, 2015 in Advice Column, West Des Moines

The preparations for spring building is starting to take shape.  As economic conditions in the building market seem to be getting better, new activity is springing up throughout the Des Moines metro.  With a combination of low interest rate cycles and financial institutions that have money to lend, it appears that there are quite a few large projects on the drawing boards all over the place.  Whether you are moving, building a new home or starting a business these growth areas will affect many as they come to fruition.

Perhaps it is the new retail center at Prairie Crossing in Altoona, Microsoft in West Des Moines, or the continued ramp up and development of the residential areas in the suburbs.  There are new things to consider when making choices on where to locate and who to do business with.  As a community banker and a longtime supporter of many chamber of commences and development groups I am excited for these projects and many others.  They represent the best of Iowa and private/public partnerships.

There are many resources produced that can be helpful in identifying these projects and weighing the impact on your community.  Many people ask about what is going on in the metro on a daily basis. Here are a few good sources to look at in order for you to keep up on the latest development.

Local area Chambers of Commerce– This may be obvious but they are always keeping track of what is going on in their backyard.  The cost of a membership is often worth just the community updates.

Economic Development groups– Many areas have their own economic development coordinators and boards.  Extensive information exists on their websites about ground and building pricing.  They are very helpful to startup business owners as well.

Area Realtors and Commercial Brokers- Often produce their own newsletters on lease rates, ground sales, velocity of lots etc.  They can give you some insight as to what other companies see in the market.

Public records-  Many things such as lot pricing, ground plats and historical sales are available to everyone who takes the time to do some research.  Assessors, Recorders and City records are other great ways to check out current market activity.

At Legacy we believe that having information available to make good decisions leads to loyal customers. In the end a financial institution can only be successful if its customers are as well.  Here is to making educated decisions in 2015.

Information provided by Brian Chittenden, Executive Vice President, Legacy Bank, 515-276-7010


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