The Iowa Economic Development Authority (IEDA) recently announced $39.84 million in workforce housing tax credits to support development in 39 counties across the state. The awards will fund 69 projects expected to create over 2,000 new residential units.
“When families have access to quality, affordable homes near good jobs, everyone wins,” said Debi Durham, director of IEDA and the Iowa Finance Authority. “Families put down roots, employers can find and keep workers, and communities have the stability they need to grow and thrive. That’s good for local businesses, our communities and our economy.”
Eight housing projects within the Ames region were awarded, combining for a total of 253 units across 6 communities totaling $3.6 million in funding. Those projects are listed below:
Ames:
- Keystone Equity Group, LLC | Ames Baker Subdivision | 6 Units | $104,550
Huxley:
- Republic One Management, LLC | The Republic at Anthem | 90 Units | $1,000,000
Nevada:
- Keystone Equity Group, LLC | Nevada Northview Plat 1 | 8 Units | $167,520
Ogden:
- Division Rowhomes, LLC | Division Flats Ogden | 26 Units | $733,700
- Zachary McCloud | OTF Upstairs Apartment Renovation | 2 Units | $25,420
Roland:
- Keystone Equity Group, LLC | Keystone Estates Plat 1 | 12 Units | $441,180
Webster City:
- Origin Homes 2026, LLC | Webster City Brewer Creek Estates | 3 Units | $126,191
- Wilson Estates, LLC | Wilson Estates | 106 Units | $1,000,000
“These successful applications will bring more than $3.6 million in state funding to our region, which is tremendous news for the communities involved,” said Dan Culhane, President & CEO of the Ames Regional Economic Alliance. “The 253 new housing units these projects will create will help address a critical need in our region and strengthen our ability to attract and retain the workforce needed for continued growth.”
The Workforce Housing Tax Credit program supports projects that redevelop abandoned, vacant or deteriorated properties. For more information, please view the full press release from the Iowa Economic Development Authority on their website.