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The "Hub Spot" will soon be Newest Attraction on The Principal Riverwalk

Downtown Des Moines project set for completion in 2011

April 26, 2011 (Des Moines, IA) - A new iconic meeting point on The Principal Riverwalk will soon grace the intersection of West Court Avenue and Water Street in Downtown Des Moines.

The “Hub Spot”, named after longtime supporters of The Principal Riverwalk, the Hubbell family, will feature a multi-use structure with an outdoor open plaza that will serve as host to a number of outdoor activities. The lower level will house public restrooms and seating.

“We are so pleased to see the momentum of this project grow. This location has great historical significance to our family, as the spot where F.M. Hubbell threw a gold piece across the river as a statement of finality about making Des Moines his home,” said Mike Hubbell. “It is our hope for this to become an iconic meeting point for people out on the town, spurring a new common phrase, ‘I’ll meet you at the Hub Spot!’”

Construction on the project began last summer with anticipated completion in October 2011.

“Our hope for The Principal Riverwalk was to create a catalyst for development in downtown Des Moines and we’ve done just that, as evidenced by the $300 million in new investments in The Riverwalk since the beginning of the project. We are fortunate to have supporters like the Hubbell family who help bring the vision to fruition, and step up to support the future of Des Moines as a world-class community,” said Mary O’Keefe, senior vice president and chief marketing officer, The Principal.

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About The Principal Riverwalk

A gift to the city of Des Moines in celebration of the 125th anniversary of the Principal Financial Group, The Principal Riverwalk connects the east and west sides of Des Moines through a seamless series of walking paths and bridges. Once completed, the 1.2 mile loop will anchor four downtown Des Moines major attractions: the Botanical Center, the Court Avenue District, the Science Center of Iowa and the Iowa Events Center. The project also serves as a hub for the city’s numerous bike trails, connecting nearly 300 miles worth of trails in Central Iowa.

About the Principal Financial Group

The Principal Financial Group® (The Principal ®)[1] is a leader in offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement and investment services, life and health insurance, and banking through its diverse family of financial services companies. A member of the Fortune 500, the Principal Financial Group has $318.8 billion in assets under management[2] and serves some 19.1 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG.

"The Principal Financial Group" and "The Principal" are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.
As of Dec. 31, 2010.

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Call 515.246.4907 or see the full Media Relations contact list.

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