URBANDALE, Iowa — Affordable housing is now available in Urbandale after a national developer completed construction after just one year.
TWG, a real estate company specializing in affordable housing developments, announced Tuesday it completed the Lillis Lofts located at 6313 Douglas Avenue.
Lillis Lofts provides an affordable option for residents who earn between 30-60% of the area median income in addition to market-rate units.
The $10 million property spans 1.25 acres.
Construction began in fall 2020 for the three-story building, which features a playground, business center, community room and fitness room. Renters can choose between studio, one and two-bedroom apartments.
TWG did not complete the project on its own. Des Moines nonprofit Dream Catcher and the Polk County Housing Trust Fund contributed funds to complete the project.
The housing trust fund was also awarded tax credits through the Iowa Finance Authority to complete the complex.
Architecture firm ID8 Architects also helped by designing the building.
“This project was a collaborative effort, and would not have been possible without support from the City of Urbandale and Merle Hay Mall,” said TWG Development Analyst Graham Parr in a release. “By working closely with Dream Catcher, we were able to create a great affordable development for this community.”
"Dream Catcher is excited to see Lillis Lofts completed and proud to have played a part, along with TWG and the other partners, in adding another high-quality housing choice to the Urbandale community," said Joe O'Hern, president of Dream Catcher, in a release.
The City of Urbandale also contributed to the project by making affordable housing a priority for the Des Moines suburb. The apartment building will remain an affordable housing option for the next 15 years.
"Affordable housing is a high priority for the City Council and we’re proud to have a new development in Urbandale,” Mayor Bob Andeweg said. “Building and preserving affordable housing near jobs, transit, and services is key to ensuring that all Central Iowans have access to safe, stable, and affordable housing options now and in generations to come.”