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Main Street Iowa-Downtown Summit

Main Street Iowa-Downtown Summit. Mason City, Iowa August 20-21, 2002. Goodnight my Someone – People Living Downtown. Who is Heartland Properties, Inc (HPI) What is the role of HPI in a Development Why Downtown? The Benefits The Challenges Excellent Examples of Downtown Housing

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Main Street Iowa-Downtown Summit

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  1. Main Street Iowa-Downtown Summit Mason City, Iowa August 20-21, 2002

  2. Goodnight my Someone – People Living Downtown • Who is Heartland Properties, Inc (HPI) • What is the role of HPI in a Development • Why Downtown? • The Benefits • The Challenges • Excellent Examples of Downtown Housing • Conclusion

  3. Mission Heartland Properties, Inc. providesQUALITY AFFORDABLE HOUSINGin the Alliant Energy service territory

  4. There are many excellent examples!

  5. Heartland Properties, Inc. • Formed in 1988 • Alliant Energy subsidiary • Offices in Cedar Rapids and Madison

  6. HPI Since 1988 • 126 Developments • 5,689 Apartment Homes • $356 Million Community Investment

  7. Fond du Lac Albert Lea Reedsburg Montello Sun Prairie Decorah Richland Center Dubuque Jefferson Maquoketa Carroll (2) Clinton Knoxville Atlantic Fairfield Fort Madison (2) Keokuk 19 DevelopmentsSince Merger

  8. Families Older Adults Special Needs HousingTypes

  9. Why Downtown? - the Benefits • Unique living spaces • Non-traditional Units • Cultural Heritage • Urban Environment • Character • Proximity to Services • Seniors • Young Adults • Local Involvement

  10. Why Downtown? – the Challenges • Parking • Green Space • Community Space • Street Level Commercial Space • Proximity to Services • Local Involvement

  11. Wagon Wheel Apartments • Burns & Burns, L.C. • New Construction • 33 Apartments • Older Adults ( 55+) • 3 story w/ Elevator • Located across the street from the Senior Center

  12. Wagon Wheel Apartments • Financing Sources: • HPI - Equity • IFA - LIHTCprogram • IDED - HOME program • FHLB-DM - CommunityInvestmentProgram

  13. Decorah Woolen Mill • Northeast Iowa Community Action Corp. • Adaptive Re-use • 15 Apartments • Persons w/ Special Needs

  14. Decorah Woolen Mill • Financing Sources: • HPI Equity • IFA-LIHTC program • National Park Service-Historic Rehabilitation Tax Credit • State Historical Society of Iowa-State Rehabilitation Tax Credit • Federal Home Loan Bank-AHP Funds

  15. Henry Stout Senior Apartments • MetroPlains Development • Historic Adaptive Re-use • 33 Apartments • Older Adults (55+) • 4 Story w/ new elevator added • Historically significant features retained

  16. Henry Stout Senior Apartments • Financing Sources: • HPI Equity • IFA-LIHTC Program • National Park Service-Historic Rehabilitation Tax Credit • State Historical Society of Iowa- State Rehabilitation Tax Credit • IDED-Enterprise Zone Tax Credits • City of Dubuque-CDBG Loan

  17. The Van Allen • Community Housing Initiatives • Historic Adaptive Re-use • 19 Apartments • General Occupancy • 4 story w/ elevator • Roof-top deck to be added

  18. The Van Allen • Financing Sources: • HPI Equity • IFA-LIHTC program • National Park Service-Historic Rehabilitation Tax Credit • IDED-HOME and Enterprise Zone Tax Credits • Federal Home Loan Bank-AHP Funds

  19. River City Apartments • Community HousingInitiatives • HistoricAdaptive Re-use • 46 Apartments • General Occupancy • 4 Story w/ elevator • Indoor parkingavailable

  20. River City Apartments • Financing Sources: • HPI Equity • IFA LIHTC program • National Park Service-Historic Rehabilitation Tax Credit • State Historical of Iowa-State Rehabilitation Tax Credit • IDED Home and Enterprise Zone Tax Credit

  21. Conclusion People need a reason to live downtown • Entertainment • Arts • Unique living space

  22. Remember… • Location - Important • Does Market Need It ? • Can Residents Afford It? • Will Community Support it? • Can the Financing be Arranged? • Are You Willing to Invest Time?

  23. Housing Spoken Here www.Heartland-Properties.com 1-800-942-4522

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