Two Polk County housing projects will receive Low Income Housing Tax Credits in the recent 9% allocation announced by the Iowa Finance Authority (IFA), including one project that will receive funds after projects previously slated for other parts of the state determined they will not go forward.
First in July, Spencer, Iowa-based Community Housing Initiatives received $545,971 in annual housing credits plus $500,000 in state HOME funds to renovate the Frank Smith Center in Des Moines. The property is located at 2100 Beaver Ave. in Des Moines - just south of the First Church of the Open Bible at the corner of Beaver Ave. and Hickman Rd. The Frank Smith Center offers 44 1-bedroom apartments for seniors age 62+ and people with disabilities and includes rental assistance. Nearest DART transit access is 1 block south on the local 5 route serving Johnston and Des Moines via Merle Hay Mall.
Then in August, the Iowa Finance Authority announced an additional award of $1.15 million in credits to Columbus, Ohio-based Woda Cooper Companies to construct Alley Landing. This property will be located at 2701 Douglas Avenue in Des Moines on the site of the former bowling alley that burned down in December, 2017.
Funding for this project became available after a 2022 funded housing project elsewhere in the state did not move forward, according to IFA.
Alley Landing will feature 40 new construction housing units ranging from one to three bedrooms. The City of Des Moines has committed 8 housing choice vouchers to the property to allow those units to be used as permanent supportive housing for people previously experiencing homelessness. Other property amenities include in-unit laundry, a fenced pet area, community room, and playground. Alley Landing is expected to welcome residents in 2025.
Nearest DART transit access for Alley Landing is adjacent to the property for the local route 16 on Douglas Avenue with service to Downtown, Merle Hay Mall, Broadlawns Medical Center and Polk County River Place. The crosstown route 50 also serves the property weekdays.