Hansen Real Estate Services develops multifamily residential properties in Des Moines, Iowa.
WHETHER IT’S DEVELOPING products to cater to the latest design trends or adding the technological advancements as standard options, Hansen Real Estate Services of Des Moines, Iowa, has stayed on top of the multifamily-residential market by delivering exciting living quarters to residents who want the best.
“I think our development projects are a much higher-end product than what is typically seen in this market,” says Troy Hansen, founder and president of Hansen Real Estate Services. “We do things that are unique and have a ‘wow’ factor, so people typically enjoy living in our communities.”
Hansen launched Hansen Real Estate Services in 2009. He learned the building industry by working for his father’s company, Hansen Company Inc., starting when he was 14 years old. Hansen started working full time in 2001 as a project manager.
He soon realized he had a passion for the real estate side of the business, so he focused on this segment of the industry instead. Through his background, Hansen brings experience from various facets of the construction industry to real estate development, brokerage and property management.
According to Hansen, those who choose to live in multifamily-residential homes are demanding more amenities than ever. Hansen says residents are spending less time in their apartments, so competing multifamily- residential developments are upping the ante with common-area amenities.
“Amenities in the multifamily projects are critical because people enjoy having different luxuries,” Hansen says. “People are spending less time in apartments and are enjoying what the common areas have to offer. Additionally, they have come to expect certain in-unit amenities such as laundry, provided wireless Internet and satellite TV.”
The materials used on Hansen Real Estate Services’ developments are quite unique to the Des Moines region, as well, according to Hansen.
“Our developments are not the typical wood-frame construction,” Hansen says. “We’re doing precast steel structures that are going to leave a lasting impression for our community.”
Residents also demand the latest technological advances inside and out of their own units. For example, Hansen says his company’s developments focus the interaction residents have with their homes from an IT perspective.
“We’re always bringing fiber optics to our projects and making sure that the tenants can interact with us at our properties,” he says. “Everyone has their own secure wireless network system ready at move-in.”
Reaching New Heights
One example of Hansen Real Estate Services’ capabilities in multifamily-residential development is its City Square Lofts project in downtown Des Moines. The market-rate apartment complex in the city’s East Village neighborhood will feature a variety of floor plans ranging from micro units to three-bedroom, three-story apartments.
The entire City Square Development includes 124 market-rate units; a 111-unit, extended- stay hotel; and a 317-car garage.
Hansen Real Estate Services began construction on City Square Lofts in winter 2014, and Hansen says completion is scheduled for June 2016. The project will cost $49 millionto complete.
According to Hansen, this is the largest undertaking his young company has attempted thus far.
City Square Lofts involves construction of seven stories in one portion of the site and three-story brownstone units on the east side of the city block the site occupies, as well.
The staggered height of the development was necessary for maximizing views of East Village and the state capitol. Also, height restrictions prohibit residential structures from exceeding 75 feet and commercial buildings from rising above 50 feet.
“We can’t go over 75 feet, so we maxed out at seven stories there,” Hansen says. “We’re incorporating maximized density for the units and getting parking within the development, as well.”
Meeting height restrictions was one of many ways Hansen Real Estate Services worked hand-in-hand with the city of Des Moines and other community members to make sure the project would be a success.
“Just continuing to communicate with the city and different neighborhood groups is pretty important,” Hansen says. “As every project seems to go, it certainly evolves through the planning process.
“Sometimes the plan changes slightly to what is presented to different boards or commissions, and that’s just always a challenge,” Hansen adds.
For residents, City Square Lofts will feature an outdoor rooftop garden on the roof of the garage with a gazebo area and dog park. Units on the fourth floor of the sevenstory tower will have balconies that walk onto the shared rooftop garden. Other units will have convenient access to the parking structure through the back door.
Building Up Des Moines
For the future, Hansen foresees his company adding quality multifamily-residential developments the Des Moines market hasn’tseen. He takes pride in leaving an indeliblemark on the city’s multifamily landscape.
“We’ll be continuing to do very nice developments that stand out and people can recognize as product we’ve developed,” Hansen says. “We want to build something that’s going to last and be here for years to come.”