Developer Swaps Cash LLC, managed by Lincoln and Lisa McIlravey, has proposed building a 112-room Element Hotel by Marriott at 304 E. Walnut St. in Des Moines Iowa’s Historic East Village. The $21.5 million project will be six stories with 4,500 sf or retail space. It is expected to receive financial assistance from a 10-year, 80% tax increment financing economic development grant of up to $2 million, according to the development agreement with Swaps Cash LLC. The project is being designed by JLG Architecture. The developer has until Dec 31, 2023 to complete the project.
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