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Jun 24, 2026
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Des Moines Developer Sued for $33M

OBBM Network Editorial Staff
June 23, 2026
Des Moines Developer Sued For 33M

Peoples Savings Bank of Indianola is suing Blackbird Investments and Justin Doyle for $33 million in unpaid loans related to the 515 Walnut tower project in Des Moines.

Project Background

The project, located at 5th and Walnut, has since changed hands and is now nearly complete. New developer Joe Teeling hopes to welcome the first tenants to the 33-story building next spring.

The lawsuit alleges that Blackbird Investments missed repayment deadlines after construction plans for the project stalled.

Original reporting: KCCI Des Moines — read the source article.

OBBM Network Editorial Staff

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Editorial team behind OBBM Network — independent, hyper-local journalism syndicated through HyperLocalLoop and OBBM Network TV.

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