Ament Design is excited to have the opportunity to work with TWG on another great project in Marion, Iowa.
The Iowa Finance Authority Board of Directors recently awarded Marion as one of twelve communities to receive federal housing tax credits in support of a 50-unit low income apartment complex. “The housing tax credit awards announced today will soon have a very real impact on hundreds of Iowa families and seniors who will call them home,” said Iowa Finance Authority Executive Director Debi Durham. “Not only is affordable housing the cornerstone for thriving families but it’s also integral for thriving communities. The twelve communities awarded today will benefit from the positive economic ripple effects for generations to come.”
Marion Lofts will be located on 5th avenue in Marion, on what is currently an empty lot and will be constructed by TWG Development, LLC. TWG Development, based in Indianapolis, has developed over 60 projects and 3,000 units to date including Blairs Ferry Senior Apartments in Marion. The company is investing approximately $9,150,000 into this project.
The building will consist of a single 4-story building on 1.27 acres that offers one bedroom, two bedroom and three bedroom options. The project will have amenities such as: community room, fitness center, playground, leasing and management office, storage units in each apartment, video security, in-unit washer and dryers, bike racks and internet connectivity.
The Iowa Finance Authority (IFA) received 31 applications requesting more than $22.2 million in housing tax credits in the 2019 tax credit round and IFA had approximately $8.8 million available to allocate.