DES MOINES, Iowa —

An ambitious housing project in downtown Des Moines has been put on pause while developers work out a payment problem.

The 515 Walnut development, which was in the works for years before finally starting construction early in 2025 , is on hold.

Late last week, KCCI received an email that was sent to contractors from the contracting company. It summarizes the situation, noting the company has sent multiple default notices to the owners about payment inaction. It then reads that effective end of day last Friday, work would stop at the site until payment is received. It also reads that the contracting company isn't expecting a "demobilization", and that it "fully expects this to be resolved imminently".

KCCI did reach out to the contracting company, but was referred t

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