Three proposed housing projects planned in Polk County have been approved to receive nearly $1.6 million from the Polk County Housing Trust Fund. The housing trust’s board approved the funding awards at a recent meeting.

Each project is waiting for a funding decision in the Iowa Finance Authority’s competitive housing tax credit round. A decision is expected in late summer. If all three projects receive full funding, they would collectively bring an additional 127 units of affordable housing to the Des Moines area.

“Adding to the region’s supply of quality, affordable rental housing is one of the most important roles we play,” Toby O’Berry, executive director of the Polk County Housing Trust Fund, said in a prepared statement. “These projects provide housing that people truly need, close to transit and jobs, and they will play a big role in revitalizing the areas in which they are planned to be built.”

Projects that were awarded funding from the Polk County Housing Trust are:

• Valley Ridge, proposed at 1245 Eighth St. in West Des Moines. The 52-unit development would include one-, two- and three-bedroom units, in-unit laundry and shared patio space. All of the units would be income restricted. The housing trust awarded the $11.8 million project $300,000 from its new rental development program. The project’s developer is Hubbell Realty Co.
• The Townhall, a project proposed at 1609 Sixth Ave. in Des Moines. The proposed project would include two buildings. One building would be newly constructed with two floors of affordably priced units and a street-level floor that includes a food hall. The second building would involve the rehabilitation of the historic North Des Moines City Hall structure. The restored building would include a first-floor coffee shop and affordable apartments on the other levels. All 29 units would be income restricted. The $12.3 million project is proposed by Ntontan RE and Newbury Living. The housing trust awarded the project $300,000 from its new rental development program and $400,000 from American Rescue Plan Act funds.
• Healey Pointe, a project proposed at 1350 E. Douglas Ave. in Des Moines. The 46-unit project would provide independent living apartments for people 62 and older. The four-story building would include an elevator, one- and two-bedroom units, and parking for all residents. Project amenities would include community gathering spaces, a controlled access building and a fenced dog park. The housing trust awarded the $13.6 million project $200,000 from its new rental development program and $396,874 from American Rescue Plan Act funds. The project’s developer is Woda Cooper Development Inc.

All of the projects are expected to be completed in 2026 if they receive state housing tax credits.