September 8, 2026 (DES MOINES, IA) — The Iowa Economic Development Authority (IEDA) today announced $39.84 million in workforce housing tax credits to support development in 39 counties across the state.
The awards will support 69 projects expected to create 2,093 new residential units — 1,225 in larger communities and 868 in smaller towns.
"When families can find quality, affordable homes near good jobs, everyone wins," said Debi Durham, director of IEDA and the Iowa Finance Authority. "Families put down roots, employers can find and keep workers, and communities have the stability they need to grow and thrive. That's good for local businesses, our communities and our economy."
IEDA received 117 applications requesting $72.6 million in tax credits. Of the $40 million available for fiscal 2027, $22.6 million was specifically reserved for projects in Iowa’s 88 least-populated counties. Applications were evaluated on readiness, financing, community impact, developer experience and innovation.
Examples of funded projects include:
- Bondurant (Polk County) — Ankeny-based Caliber Company will develop Bondurant Lofts, a 96-unit multifamily rental community within an 18-acre mixed-use development. Located near a planned elementary school, future retail and office space, Interstate 80, U.S. Highway 65 and major employers such as Amazon, the project will support Bondurant’s rapid growth, including new Robinson Inc. and Vermeer Corporation manufacturing facilities under construction.
- Decorah (Winneshiek County) — Decorah Jobs Inc., a local nonprofit economic development organization, will redevelop a 3.5-acre former child care site into a compact, 27-home neighborhood of owner-occupied single-family and attached townhome units. Designed with energy-efficient building practices and two- to three-bedroom layouts, the project will provide attainable homeownership opportunities with existing Iowa Highway 9 access and infrastructure, while addressing the area’s shortage of starter homes.
- Graettinger (Palo Alto County) — Graettinger Economic Development Council will construct four single-family homes on infill lots in an established neighborhood, replacing vacant and dilapidated properties with modern homes. The three-bedroom, two-bathroom homes will be built through Homes for Iowa, a nonprofit that trains incarcerated Iowans in the building trades, then moved to Graettinger. The project will make use of existing infrastructure and support community growth.
- Keokuk (Lee County) — Green Oak Development of Fort Madison will convert an underutilized commercial complex — originally a hospital and now less than 15% occupied — into at least 32 market-rate apartments. The project will transform an entire city block, including the complex’s largest building, a 78,000-square-foot structure that most recently housed the Southeast Iowa Development Center. The project will remove two obsolete structures and add parking, green space and landscaping near downtown.
- Malvern (Mills County) — The Charles E. Lakin Foundation Inc. of Council Bluffs will construct three two-story buildings with 24 rental apartments on an infill site. The project will provide one- and two-bedroom, energy-efficient units along U.S. Highway 34 with convenient access to the Interstate 29 corridor. The development will address a severe shortage of quality rental housing while supporting access to major employers in Council Bluffs and the Omaha, Nebraska, area.
The Workforce Housing Tax Credit program supports projects that redevelop abandoned, vacant or deteriorated properties. For more information about the program, visit iowaeda.com/workforce-housing-tax-credit.
Download a complete list of awards.
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