Community Housing Initiatives Inc. and Affordable Housing Network Inc. have partnered to acquire Sugar Creek Bend LLLP, a new development that will include the construction of 20 single-family homes in Cedar Rapids. Midwest Housing Equity Group Inc. (MHEG), an Omaha-based tax credit syndicator, has lined up 13 investors, including Bankers Trust Co., Wells Fargo & Co., Cedar Rapids Bank and Trust Co. Through the purchase of an allocation of low-income housing tax credits by the Iowa Finance Authority, these investors will provide $3.3 million in equity for the estimated $5.4 million project. “MHEG wanted to play a part in rebuilding Cedar Rapids,” said Dan Garrett, executive vice president of MHEG’s Iowa operations, in a press release. “We were challenged to come up with a project that would fit the loss done by the flood, and while a small step, it is a huge step into getting back to normalcy for the city of Cedar Rapids.”