Jul 1, 2022 - News
16 Des Moines housing proposals vie for state tax credits
Des Moines' city government is endorsing 16 housing projects for a state tax credit program.
- Applications for the program are due Friday.
Why it matters: The housing projects could add as many as 662 new apartments with a combined construction cost of about $159 million, according to city documents.
- Multiple proposals include rehabs to historically significant buildings.
Catch up fast: The state-administered Workforce Housing Tax Credits provides up to $1 million of benefits per project.
- Per-unit construction costs are capped to maintain affordability for entry-level workers, students, seniors, people with disabilities and families.
- Just over a third of applicants to the state's program — 49 of 137 — won awards last year.
A few of the proposals:
- 3614 6th Ave: An historic rehabilitation of a retail and four-residential-unit building in the Oak Park neighborhood.
- 418 E. Grand Ave: Construction of a 132-united apartment building in downtown's East Village.
- Murphy Street townhomes: A project that would add 10 to 13 new townhomes on a vacant triangular lot situated between 8th and 9th streets in downtown.
What's next: Awards are generally announced in the fall.
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