DES MOINES — The Younkers department store was an anchor in this city’s downtown for over 100 years. And after it closed in 2005, the prime location was central to a plan to revitalize a long-neglected commercial corridor.

A fire in 2014, however, derailed momentum for the project, under which the store, on the north side of Walnut Street, between Seventh and Eighth Streets, was to be converted to 120 apartments and commercial space.

The blaze resulted in the demolition of one of the two turn-of-the century buildings that had housed the store and halted a plan to spruce up several blocks of Walnut Street. And it caused millions of dollars in damage to surrounding properties and the closing of several nearby small businesses.

But now Blackbird Investments, a Des Moines-based developer, has embarked on a $60 million project to bring some 280 apartments, retailers, restaurants and potentially hotel rooms to the former Younkers site.