September 9, 2025 (DES MOINES) – A panel of industry judges recently selected the proposed Council Bluffs housing development Spin Lofts as the winner of the Iowa Finance Authority’s (IFA) third annual Innovation in Housing Pitch Competition, held at the HousingIowa Conference in Cedar Rapids last week. Led by Iowa-based developer Arch Icon, the project will now advance in the Federal Housing Tax Credit Innovation Set-Aside application process. It’s eligible for up to $10 million in federal tax credits over ten years to support its development.
“The success of our annual Housing Innovation Competition is a testament to the vision and creativity driving Iowa’s housing sector, as well as the strong commitment of developers, communities and partners,” said IFA and Iowa Economic Development Authority Director Debi Durham.
I extend my congratulations to all of the finalists for their outstanding proposals, my gratitude to the judges for their thoughtful deliberation and my excitement for seeing Spin Lofts become a reality.
The Iowa Housing Tax Credit Innovation Set-Aside called for creative proposals from developers for housing projects serving special populations or using innovative construction, financing or operations, unique partnerships or other innovations which otherwise may not be feasible through the 9% Federal Housing Tax Credit round. Three finalists were selected to pitch and one winner was chosen.
“We are honored to be selected as this year’s winner,” said Darin Smith, Co-Founder of Arch Icon Development. “Spin Lofts represents the kind of project we believe in, one that’s rooted in community partnerships, focused on the people who need housing the most and designed to make a lasting difference in Council Bluffs. With the support of IFA and our partners, we look forward to bringing this vision to life.”
“This is one of the most innovative initiatives in the country,” said Mark Shelburne, Senior Policy Advisor at Novogradac Consulting. “To not only encourage groundbreaking housing concepts but to showcase them in a live pitch competition raises the bar for how states can foster creative solutions. Iowa is leading the way and Spin Lofts is a powerful example of what’s possible.”
Spin Lofts
Arch Icon Development Corporation and Lutheran Family Services’ winning proposal, Spin Lofts, is a collaborative, mission-driven affordable housing development in Council Bluffs. The project will transform a long-vacant, city-owned lot into high-quality, permanently affordable rental homes for a diverse population, including individuals and families experiencing homelessness, and members of the local workforce.
Rooted in strong public, private, nonprofit and philanthropic partnerships, Spin Lofts is designed to address urgent housing needs in Southwest Iowa while supporting neighborhood revitalization. With Lutheran Family Services serving as the long-term nonprofit operator and Arch Icon as the experienced development partner, Spin Lofts aims to serve as a flexible, scalable model for equitable housing development grounded in community engagement and cross-sector collaboration.
The pitch competition judges included: Jana Daisy, Iowa Department of Health and Human Services; Julie Robison, Institute for Design Research and Outreach, Iowa State University; Luis Rico-Gutierrez, Dean, Iowa State University College of Design; Mark Shelburne, Novogradac Consulting, LLP and Jennifer Schwartz, Director of Tax and Housing Advocacy, National Council of State Housing Agencies
More information on the Housing Innovation Pitch Competition and all three finalists is available at housingiowaconference.com.
1963 Bell Avenue
Des Moines, IA 50315