Developers propose $197M in Des Moines housing projects
Why it matters: The developments aim to serve a diverse range of residents, including entry-level workers, students, seniors, people with disabilities, and families, supporting both community stability and economic growth.
Catch up quick: The workforce housing tax credit (WHTC) program offers state tax incentives to support the construction or rehabilitation of housing in areas with workforce shortages, with $17.5 million available to Iowa's 11 most populous counties.
By the numbers: In Des Moines, 11 proposed projects will create a total of 668 new or rehabilitated housing units.
Zoom in: The largest development is a $77 million conversion of downtown's Financial Center building, 606 Walnut St., into commercial space and 209 apartments.
The Aston, 603 E. 6th St., would be a nearly $50 million new construction project with 161 apartments.
Drake University's vacant Ross Hall, 1214 31st St., would be demolished to make way for a $17 million, 78-apartment project.
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New York Times
04-08-2025
- New York Times
Aston Villa's summer of uncertainty is not ideal preparation for a new Premier League season
Aston Villa's transfer team are used to thinking on their feet. A product of a volatile market, influenced by the seemingly perennial concern of having to comply with profit and sustainability rules (PSR), staff members often stress the need to be proactive in seeking targets for a time when Villa, invariably, become reactive to replace players who have just left. Advertisement Best-laid plans forged in May can change over the summer months. Initially, Villa wanted a right-footed centre-back, right-back, winger and forward. Money needs to be raised from outgoings to plug those gaps, especially if they are breaching UEFA's squad cost rules (SCR), which are even stricter than the Premier League's PSR. The only genuine pursuit has been for Toulouse centre-back Jaydee Canvot, with the first formal approach rejected. Players and staff accept that Unai Emery's squad needs a refresh, but even if selling the women's team has placated the threat of PSR, Villa need to cut their wage bill below 70 per cent of overall revenue to comply with UEFA's rules. There has been a degree of surprise among staff, who spoke to The Athletic under the condition of anonymity to protect relationships, at the lack of activity, but no marquee departures are imminent. Ideally, Villa would have strengthened at right-back over the previous three windows, providing competition for Matty Cash and sharing his workload. High salaries at left-back, especially with Ian Maatsen and Lucas Digne competing for the spot last year, meant they simply did not have the monetary comfort. Villa have only made one senior signing — backup goalkeeper Marco Bizot. Rumours arise daily about potential incomings, most of which are swiftly knocked down and dismissed. For example, if Villa had successfully offloaded Leon Bailey, they would have likely signed another winger by now. They liked Real Betis' Jesus Rodriguez but were never truly in the race. In the end, Rodriguez joined Como. Selling other players who have been isolated from Villa's travelling party to the United States, such as Alex Moreno and Leander Dendoncker, would have saved Villa more than £100,000 ($133,000) per week in salary costs. Advertisement If any of these dominoes had fallen, Villa would have reacted sooner to bring in replacements. It is what makes pre-empting their transfer strategy at the window's outset so complex — they have a nimble approach, shifting between targets and always weighing up the financial pros and cons. Employees, speaking under condition of anonymity to protect relationships, even acknowledge this school of thought, with Villa changing strategy, contingent on what targets are viable and whether Emery may decide that he already has a player who can cover the desired position and, therefore, need to address another area instead. Acting on their feet might seem necessary in the era of PSR, but it is not ideal preparation for the new season. The approach represents the antithesis of the stability Emery demands, even if it has been successful for Villa in previous windows. Pre-season has been set against the backdrop of departures, though no high-profile player has exited. It has become a 'whodunit' storyline — who will be the player(s) to leave? Arguably, the bedrocks of Emery's era are Emiliano Martinez and Ollie Watkins. Speculation about both perpetually swirls. Villa are adamant Watkins will not be sold, despite Manchester United sounding out the striker. United also cheekily asked to take Martinez on a season-long loan, which was met, unsurprisingly, by instantaneous push back. Martinez thought at the end of last season (hence the tears) that his time at Villa was up. His representatives had been in contact with United since the start of the year, and Martinez reckoned that they or another famously large team in Europe would come calling and strike a deal. However, no club has made a proposal that comes close to Villa's asking price. Martinez and Watkins are large presences on and off the field. Doubt over their futures cannot be conducive to long-term planning, though Villa are trying to negate this by insisting Watkins will stay and lead the line this term. The forward expressed frustration over a lack of playing time in the second half of last season, and Villa were not totally opposed to his exit in January, but the 29-year-old is extremely well-liked among staff, who are warm in their praise for his professionalism, attitude and respect he shows around the training ground. Advertisement Villa have outlined their desire to renew Morgan Rogers' contract, despite the 23-year-old only signing a new five-year contract in November, bringing him in line with his status as a key player for Emery. All parties are aware that Rogers has multiple Premier League admirers. Boubacar Kamara's contract extension did provide some certainty as he penned a deal until 2030 to dismiss fears he would leave this window. A new contract may be in the offing for Jacob Ramsey but clubs, including Nottingham Forest, are monitoring his situation, sensing that he is available for the right price. For now, though, we wait. Supporters wait, players wait, Emery waits. Villa's squad requires trimming, cutting peripheral figures and deciding the futures of some senior players. In theory, being stifled in the transfer market while waiting for probable exits is not conducive to Emery's abiding thirst for progress. Some players featuring in pre-season have little to no chance of making a competitive appearance and there are others who have played, but are unsure whether they will be here next month. Villa are a victim of circumstance as they attempt to navigate a delicate PSR and SCR situation. The Emery era has tended to be adept in managing turbulence — how his side start the season will be another test of such resolve.
Miami Herald
01-08-2025
- Miami Herald
Aston Martin May Sell Stake in Formula 1 Racing Team and Go Private in Turnaround Efforts
Despite coming up with some compelling vehicles in recent years, Aston Martin has continued to struggle financially, leading it to some tough decisions as it plots a path forward. Among other efforts, the storied British automaker reportedly plans to sell its stake in its Formula 1 racing team, and some expect the company to delist itself from the London Stock Exchange. Aston only owns 4.6 percent of the racing team, but the sale would raise $146 million for the company, which desperately needs cash. The automaker cited tariffs and a slowdown in China for its struggles, saying it would only break even this year, which caused a drop in its share prices. The company's stock market valuation has dropped from almost $6 billion in late 2018 to just over $1 billion today. That said, the F1 team sale valued the company at $3.2 billion. Related: 2025 Aston Martin Vanquish Volante First Drive Review: Not For the Faint of Heart While Aston Martin won't have a stake in the F1 team after the sale, it will continue a relationship with the sport through naming and branding agreements, so we won't see a change on the grid. The automaker's car lineup is one of the most compelling in its history, so there are reasons for Aston to be encouraged. Its first SUV, the DBX has grown to account for almost half of its sales, and other new models have received stellar reviews from customers and critics. Lawrence Stroll acquired the Force India F1 team in 2018 and transformed it into the Aston team we know today. Stroll and his partners have continue investing in the business, but many credit Netflix's Drive to Survive with bringing the sport's value to an all-time high. Copyright 2025 The Arena Group, Inc. All Rights Reserved.
Yahoo
30-07-2025
- Yahoo
US trade deal will only benefit Jaguar Land Rover, warns Aston Martin
Sir Keir Starmer's trade deal with Donald Trump risks favouring Jaguar Land Rover (JLR) and 'squeezing out' smaller carmakers, the boss of Aston Martin has claimed. Adrian Hallmark said changes to the UK-US agreement were urgently needed 'so we don't get squashed and so that it doesn't become a JLR tariff agreement'. The chief executive's comments, reported by Bloomberg, concern the trade deal's arrangements for British cars shipped to America under a new quota system that came into effect this month. Under the deal, tariffs on British cars have fallen from 27.5pc to 10pc. But this is only for the first 100,000 cars per year, or 25,000 cars per quarter. It has also recently been confirmed that this quota will be allocated on a 'first come, first served' basis, triggering fears that carmakers will be forced to race against each other to get vehicles out of factories and on to ships first – or face higher taxes than their competitors. JLR shipped more than 120,000 cars to North America in 2024, according to published sales figures. Aston shipped about 2,000. High stakes On Wednesday, Mr Hallmark called on the Government to impose limits for different categories within the quota. For example, he said some of the quota should be reserved for the type of high-end supercars that Aston and competitors produce. The marque also competes with the likes of JLR, Lotus, Rolls-Royce and Bentley in the lucrative luxury SUV market with its DBX model. The stakes for these brands are high because once the quota is taken up, they must go back to paying the 27.5pc tariffs Mr Trump previously imposed in April. Such levies have proved expensive for companies exporting from the EU, which is scrambling to get a deal with Mr Trump over the line to reduce the rate to 15pc. Vauxhall owner Stellantis has said it expected to pay €1.5bn (£1.3bn) in tariffs this year. Separately on Wednesday, Mercedes-Benz and Porsche said tariffs would cost them €362m and €400m respectively for the first half of 2025 alone. Earlier this month, Mike Hawes, chief executive of the Society for Motor Manufacturers and Traders, said there was a 'general feeling' among carmakers 'that the tariff quota we have is sufficient to meet the demand for this year' but the industry wanted it to grow year on year. However, at the moment there is no indication that the quota will be increased. Mr Hawes added: 'They're reasonable quotas, given our export volumes. Obviously we would like to see that increase … but at least it gives you a basis to start from. 'Different brands will have different strategies, wherever they are on the product cycle for next year, and we know there are some new products coming next year.' He admitted there was a possibility that carmakers might seek to beat each other to the quota and that there was probably 'some paranoia' about that in the industry. But he claimed such a scenario was 'unlikely, because if you try and put one over on your competitors, you're going to damage that same supply chain, because it's shared among so many of these manufacturers'. Sir Keir visited the Midlands headquarters of JLR in May when he announced his 'landmark' trade deal with Mr Trump and vowed to protect jobs. However, just weeks later the carmaker said it would cut 500 jobs in what was described as 'a personal embarrassment' for the Prime Minister. A government spokesman said: 'We are working with industry to ensure the quota works effectively and fairly, and will ensure the UK remains a top destination for investment in automotive manufacturing through our Plan for Change.' JLR was approached for comment on Wednesday. Mr Hallmark's remarks came as Aston confirmed a 25pc drop in sales during the first half of 2025, blaming both US tariffs that were announced in April and lower deliveries of 'specials' – the ultra-expensive and highly profitable one-off models it produces. The company sold 1,922 in the first six months of this year, down from 1,998 in 2024. But revenues fell 25pc to £454m and profit margins shrank from 39pc to 28pc, reflecting the less profitable sales mix. Half-year losses fell from about £217m to £141m. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
