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IEDA awards over $3.8 million in Workforce Housing Tax Credits to Polk County projects

A graphic shows the Des Moines skyline with the words "development news" superimposed over it.

On Sept. 23, the Iowa Economic Development Authority (IEDA) awarded $35 million in workforce housing tax credits (up from $29.8 million last year) to 57 projects across Iowa. Iowa’s Workforce Housing Tax Credit encourages development and rehabilitation of housing in Iowa, especially focusing on rehabilitation of vacant or underused property.

In Polk County, 6 projects were awarded a combined almost $3.9 million in tax credits, all in Des Moines. Those projects will support new construction of 214 new rental housing units. The Des Moines Business Record has published additional details about each project.

IEDA reported it received applications for more than double the incentives available in this funding round. The agency says projects were “scored competitively based on readiness, financing, need and local support and participation.”

Receipt of the tax credit does not require that future residents of the property will need to meet income guidelines; however, to qualify, project costs per unit are capped depending on the type of project. For multi-family housing in an urban area, the cap this year was $218,022/unit.

Polk County projects funded

Project Title


Number of Units

Credit Amount

SW9 215, LLC

New Construction



High Street Lofts - East

New Construction



Euclid Avenue Rowhomes

New Construction



Park Indy

New Construction



UA Station

New Construction



Star Lofts

New Construction







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