# DES MOINES | The Fifth | 138m | 452ft | 40 fl | U/C



## Hudson11 (Jun 23, 2011)

*Will construction on Des Moines' skyscraper The Fifth start this month?*




> Plans for The Fifth have grown in size, scope and cost since it was first proposed more than three years ago as a 25-story tower. Mandelbaum has been exploring the feasibility of increasing the tower to 39 stories since last September. A vote Monday will make that height a requirement under the economic development agreement with the city.
> Mandelbaum expects the tower to ultimately be 40 stories, he said.


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## Hudson11 (Jun 23, 2011)

they're in business!

https://urbandsm.com/des-moines-project-pages/des-moines/downtown/fifth-tower


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## hkskyline (Sep 13, 2002)

*Downtown Des Moines visitors, workers can park in The Fifth parking garage starting this week *
June 29, 2021
Des Moines Register _Excerpt_

Starting Thursday, Des Moines downtown visitors and workers can park in an 11-story garage designed to serve a 40-story tower that may never get built.

The city of Des Moines purchased the garage in March for $42 million in connection with a foreclosure by the developer's bank.

Justin Mandelbaum and his family's company, Mandelbaum Properties, built the 751-stall garage, located on Fifth Avenue between Court Avenue and Walnut Street, that along with the skyscraper and a three-story movie theater was to have comprised the landmark development called The Fifth. 

Mandelbaum Properties failed to pay on a construction loan, and Bankers Trust Co. foreclosed on the property about three months after the city declared the Mandelbaums in default of a development agreement. The 2017 agreement had called for the city to provide millions in tax dollars to help get the project going and cover excess costs.

More : Downtown Des Moines visitors, workers can park in The Fifth parking garage starting this week


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## tschmidt5608 (Jul 29, 2021)

Now that it is mid-2021, this is the perfect time to question whether this skyscraper will be built or not. The developing company "Mandelbaum Properties" could not meet the deadline on the construction loan from the bank due to Covid-19. This means that it was completely out of their control to meet the deadline. The parking garage was partially completed when the city put the developer in default of their development agreement and the bank foreclosed on the project. More recently, the parking garage was completed and opened up to the public. The bank foreclosed on it, even though it was out of the developers control whether he could make the deadline or not. Recently, the city of Des Moines purchased the parking garage, and is now in court to determine whether the city will get their land back or not. Justin Mandelbaum (The Developer) is in court to sue the city for how much money they need to build the skyscraper, and he has a good case along with a fair shot at winning the lawsuit. Chances are that if the developer wins the lawsuit, then the skyscraper could be built. As much as I really want this to be built, all we can do is wait and see what the court decides in the near future.










(I do not own the image above)

Links for more info:









Downtown high rise advances with $107 million price tag in Des Moines


For the price of $107 million, Justin Mandelbaum will transform Des Moines’ core entertainment district with a 32-story high-rise.



www.desmoinesregister.com













Downtown Des Moines visitors, workers can park in The Fifth parking garage starting this week


The recently completed garage was purchased by the city of Des Moines in March for $42 million as part of a foreclosure sale with the developer's bank.



www.desmoinesregister.com













City of Des Moines completes $42 million purchase of The Fifth parking garage


The garage sale ends a foreclosure action against the developers. But legal wrangling over other land on the site continues.



www.desmoinesregister.com


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