A panel of housing, energy and design judges selected the proposed Des Moines development of Townhall Apartments and Community Food Market as the winner of the Iowa Finance Authority’s inaugural Innovation in Housing Pitch Competition at the HousingIowa Conference in Cedar Rapids last week.

The project will now move forward in the Federal Housing Tax Credit Innovation Set-Aside application process and is eligible to receive up to $10 million in federal housing tax credits over a 10-year period to assist with the development. The project’s Iowa-based developers are Ntontan RE and Newbury Living.

The Townhall Apartments and Community Food Market will offer affordable housing and a food hall with affordable food options. The project includes a sustainable design and a focus on resident wellness, according to a press release. The new Iowa Housing Tax Credit Innovation Set-Aside received 13 applications and four finalists were selected to present at the conference in Cedar Rapids.

Iowa Finance Authority will put all of the application fees, which totaled $6,500, toward scholarships for high school students who are interested in pursuing a career in innovation and housing in partnership with the Home Builders Association. For more information about the Innovation in Housing Pitch Competition and the finalists, click here.