May 14, 2026 (DES MOINES, IA) — The Iowa Economic Development Authority (IEDA) announced more than $28.1 million in awards through the Historic Preservation Tax Credit program to support the revitalization of eight historic properties in Cedar Rapids, Davenport, Des Moines, Dubuque, Sioux City and Waterloo.
The most recent application round opened in early January, with IEDA receiving 18 applications requesting almost $39 million in tax credits. Projects were evaluated based on readiness, financing, and local support and participation.
“This program is about more than preserving buildings; it’s about bringing them back to life in ways that serve today’s communities,” said Debi Durham, director of IEDA and the Iowa Finance Authority. “These projects create housing, support local businesses and help ensure these historic places remain part of Iowa’s story for generations to come.”
The Historic Preservation Tax Credit program provides a state income tax credit to encourage the rehabilitation of historic buildings while maintaining the architectural features that make them significant. All work must meet The Secretary of the Interior’s Standards for Rehabilitation.
This round of awards will help transform historic buildings across Iowa, including:
- Des Moines — Construction is underway to convert a former church, built in 1957 near the Iowa Capitol, into 18 studio apartments and an alternative school for homeless and nontraditional youth. Led by Starts Right Here, a local nonprofit organization, the project will preserve key architectural features.
- Des Moines — The 14-story Carriers Building, constructed in 1981 and known as Two Ruan, will be converted from office space into 221 market-rate apartments with restaurant space on the lower floors. Two Ruan is part of the downtown Ruan Center Complex, which also includes the 36-story Ruan Center — once Iowa’s tallest building — and was added to the National Register of Historic Places last year.
- Sioux City — The vacant Crescent Park Elementary School, built in 1919, is being rehabilitated into 36 market-rate apartments. The project will preserve historic features while converting classrooms and offices into a mix of studio to four-bedroom units, addressing a need for quality housing on the city’s west side.
- Waterloo — The long-vacant St. John’s Catholic Church and School, originally established in 1924 with a school addition completed in 1963, is being redeveloped into affordable housing and community-focused space. Plans include 19 apartment units in the school building, a child care facility in the lower-level gym and an event space in the former church.
The Historic Preservation Tax Credit program is administered by IEDA. The next application round opens in June, with applications due in September.
For more information, visit iowaeda.com/historic-preservation-tax-credit/.
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See the full list of awarded projects.
1963 Bell Avenue
Suite 200
Des Moines, IA 50315