A New View of Downtown DSM: 515 Walnut Tower Reshapes the Skyline

Towering above Walnut Street, the 515 Walnut Tower is rapidly transforming the Downtown Des Moines (DSM) skyline — and signaling continued investment and momentum in Downtown DSM and the entire region.

At 33 stories (34 including the roof), the skyscraper represents a $150 million investment in the heart of Downtown DSM. Once complete, the building will offer 390 residential units, become the fourth tallest building Downtown — and stand as the tallest multi-family residential tower between Chicago and Denver. Residents will experience sweeping views of the city skyline and riverfront.

Developed by St. Joseph’s Group and constructed by Beal Derkenne Construction (BDC), the project reflects continued confidence in Downtown DSM and the region’s growth. It also highlights the collaboration, willingness to invest and the highly skilled workforce required to build a tower of this scale from the ground up.

At peak construction, between 200 and 250 workers were on site during the busiest periods, with approximately 45 trades represented throughout the project. Nearly 80% of contractors involved are Iowa-based, reinforcing the project’s local impact. In total, an estimated 1,500 to 2,000 individuals, from tradespeople to consultants and suppliers, have helped bring the project to life.

The scale of the project is equally striking. At completion, crews will have poured nearly 18,000 cubic yards of concrete — enough to fill more than 200 swimming pools — alongside installing more than 5 million pounds of steel.

While the tower may appear complete from the outside once exterior work wraps later this summer, interior construction will continue through next spring as the building is finished from the inside out.

Continued Growth in Downtown Des Moines

Once complete, the tower will welcome hundreds of residents, contributing to continued growth in Downtown life, activity and street-level vibrancy.

“Projects like the 515 Walnut Tower are possible through strong collaboration among developers, contractors, skilled trades professionals, community partners and local leaders who share a vision for Downtown’s future,” said Renae Mauk, Vice President of Downtown Development at The Partnership. “It’s exciting to see that vision come to life in a way that brings new residents, new energy and new opportunities to Downtown DSM.”

As construction continues, 515 Walnut Tower stands as a visible symbol of a region that is outgrowing its Midwest peers and investing in its future.