25-story Iowa landmark to deliver 209 market-rate apartments in one of the state's most significant adaptive reuse projects DES MOINES, Iowa, July 22, 2026 /PRNewswire/ -- Foss & Company, an established tax credit syndicator, today announced the successful closing of financing for the Financial Center, a landmark 25-story office tower located in the heart of downtown Des Moines, IA. Developed by Lawmark Capital, the project will convert the historic building into 209 market-rate apartment units and approximately 152,000 square feet of commercial space, generating approximately $14. 6 million in 2026 Federal Historic Tax Credits.

Constructed between 1973 and 1974, the Financial Center was the tallest building in Iowa upon its completion and remains one of the most recognized towers on the Des Moines skyline.

The conversion plan will transform a portion of floors one through three and all of floors four through eighteen into residential units, while preserving ground-floor commercial space to support the surrounding neighborhood.