The Polk County Housing Trust Fund (PCHTF) has announced that our board of directors this month has approved $400,000 in grant awards to 11 programs at local non-profit organizations through the organization’s Community Investment grantmaking program. These grants bridge the gap between affordable housing and people in our community through programs that support the stability of families, a steady workforce, and strong and economically vital neighborhoods and communities.
"This ongoing funding initiative is critical so people and families in Greater Des Moines have the support they need to find and keep stable housing. We thank the many participating community members for their investments, which in turn allow us to thoughtfully invest in much-needed programs that help thousands of people every year,” said Julian Neely, PCHTF’s director of advancement and community investment.
The Community Investment funds PCHTF allocates are unique because they come from local businesses, organizations, and individuals through the PCHTF’s Stable Steady Strong fundraising campaign. This supplements PCHTF’s operational funding and “bricks-and-mortar” development programs to create housing, which are funded by Polk County and the State Housing Trust Fund administered by the Iowa Finance Authority.
Thanks to the operating support PCHTF receives from Polk County, PCHTF grants 100% of funds raised through Stable Steady Strong out to local nonprofit partners providing programs and services that meet critical needs in the community. Programs receiving Community Investment grants support one or more of the following priorities: homeownership counseling and education, housing-focused case management, resident services, permanent supportive housing, and affordable housing programs.
To learn more about Stable Steady Strong and the investments it supports in our community — or to make a contribution in support of this program, visit our website https://www.pchtf.org/stablesteadystrong/ .
Organization - Program name | Grant awarded |
|---|---|
Anawim Housing – Supporting Tenants and Housing Retention Program | $85,000 |
CommonBond Communities - Des Moines Program | $20,000 |
Families Forward - The Home Connection | $25,000 |
HOME, Inc. - Housing Counseling Program | $20,000 |
Iowa Homeless Youth Centers - Homeless and At-Risk Youth Project | $70,000 |
Iowa Legal Aid - Polk County Housing Stability | $30,000 |
Oakridge Neighborhood - Family and Workforce Services | $65,000 |
Primary Health Care - Client Assistance Program | $25,000 |
Primary Health Care - Landlord Mitigation | $20,000 |
The Beacon - The Graduate Support Program | $20,000 |
YMCA Supportive Housing - Graduate Program | $20,000 |
At a special meeting in May the Polk County Housing Trust Fund’s (PCHTF’s) board of directors approved just under $1.6 million in funding to support 3 proposed Low Income Housing Tax Credit developments planned for Polk County. Each project is awaiting a key funding decision in the Iowa Finance Authority’s competitive housing tax credit round with decisions expected in late summer. If all three projects receive full funding, they would collectively bring an additional 127 units of affordable housing to the Des Moines metro.
“Adding to the region’s supply of quality, affordable rental housing is one of the most important roles we play,” said Toby O’Berry, executive director of the Polk County Housing Trust Fund. “These projects provide housing that people truly need, close to transit and jobs, and they will play a big role in revitalizing the areas in which they are planned to be built.”
PCHTF will utilize two sources of funds to make its allocations. PCHTF New Rental Development Program funds will be awarded to all three projects which are drawn from the State Housing Trust Fund. In addition, PCHTF has awarded American Rescue Plan Act funds to Healey Pointe and The Townhall that were originally part of a special fund for new housing development entrusted to PCHTF by the Polk County Board of Supervisors in 2022.
Projects awarded in this round
Valley Ridge, 1245 8th Street, West Des Moines, IA
Valley Ridge is focused on expanding the affordable units, specifically for families, by expanding the availability with 8 one-bedroom and 24 two-bedroom units as well as introducing 20 three-bedroom units to the 8th Street Corridor in West Des Moines. The 52-unit property will include amenities like in-unit laundry and shared patio space and playscape for children. (Developer: Hubbell Realty Company)
PCHTF awards: $300,000 from PCHTF New Rental Development Program.
Affordability: All apartments are income restricted 39 at or below 60% of area median income and 13 at or below 40% of AMI
Transit: Property is served by DART 96 EP True Express route with service to downtown; Local 72 West Des Moines Circulator route is nearby.
A previous phase of this development was built by JCG Holdings and Benchmark Real Estate Group and is open and occupied next door. If awarded housing tax credits, construction on this $11.8m phase is expected to begin in spring 2025 with completion in spring 2026.
The Townhall, 1609 6th Avenue, Des Moines
The Townhall project is a multifaceted $12.3 million development planned for the Sixth Avenue Corridor in Des Moines with an anticipated completion date in late 2026. This project includes two adjacent buildings with 29 units. One building will involve the new construction of a three-story building containing affordable apartment units plus a first-floor food hall. The second building will involve the rehabilitation of the historic North Des Moines City Hall building, listed on the National Historic Register, to include additional affordable apartment units plus a first-floor coffee shop. Altogether, the project's primary objectives include the creation of much-needed affordable housing, economic empowerment through the innovative Food Hall concept, and the enhancement of community engagement in the River Bend neighborhood. (Developers: Ntontan RE and Newbury Living.)
PCHTF awards: Total of $700,000. Includes $300,000 from PCHTF New Rental Development Program and $400,000 from American Rescue Plan Act funds.
Affordability: All units are income restricted. 26 units are restricted at or below 60% of area median income and 3 units at or below 30% of AMI.
Transit access: Property is served by DART Local 15 (6th Avenue) route and On Demand service in River Bend neighborhood.
This project was the winner of the Iowa Finance Authority’s first-ever innovation competition at the Iowa Finance Authority’s HousingIowa in Cedar Rapids in 2023. Project innovations include sustainable design, a vibrant community space, equitable partnerships, and a resident rewards program.
Healey Pointe, 1350 East Douglas Avenue, Des Moines
Healey Pointe is a planned 46-unit development offering independent living apartments for seniors 62+. The project will consist of 30 1- bedroom and 16 2-bedroom units. The project will consist of one 4-story elevator building with adequate off-street parking for all households. Each unit will feature energy efficient appliances, HVAC systems, and in-unit washer and dryers. Project amenities will feature community gathering spaces, a controlled access building, and a fenced dog park. (Developer: Woda Cooper Development, Inc.)
PCHTF awards: Total of $596,874. Includes $200,000 from PCHTF New Rental Development Program and $396,874 from American Rescue Plan Act funds.
Affordability: All units income restricted; 34 are restricted at or below 60% of area median income and 12 are restricted at or below 40% of AMI.
Special population: Age restricted 62+
Transit: Property is served by DART Local 4 14th Street route on select trips. Route 50 Euclid Crosstown route operates nearby.
If awarded housing tax credits, construction for this $13.6 million project is anticipated to begin in spring 2025 with completion in early summer 2026.
“Through these projects, you can see that multiple levels of government together with private businesses are working together to meet the area’s housing need. Ultimately thousands of residents in our community are paying more than they can afford for homes they rent, so there is a significant continued need to invest in affordable housing,” said O’Berry.
Previously awarded, but announced today
In addition to the three projects awarded funds this month, today PCHTF is also announcing a $762,416 American Rescue Plan Act allocation that was made previously to Evergreen Trail, a group of affordable rental properties in Des Moines locally owned and managed by Community Housing Initiatives.
Evergreen Trail is composed of two smaller independent senior living properties on Forest Avenue (King Irving Neighborhood) and Indianola Ave.in Des Moines as well as 2 and 3-bedroom apartments with no age restrictions located on SE 6th Street in Des Moines (South Central DSM Neighborhood). In total, these buildings offer 26 apartment homes which are income-restricted at 60% of AMI. Funds will support needed upgrades to mechanical systems, appliances, and finishes to preserve the affordability of these units. Evergreen Terrace buildings were originally constructed between 1980 and 1985 and have significant improvement needs. (Developer: Community Housing Initiatives)
Together with the three new announcements, this means the $12 million American Rescue Plan Act fund for affordable housing set aside by the Polk County Board of Supervisors in April 2022 is currently fully awarded. Details about all PCHTF’s funding programs for housing can be found at www.pchtf.org/apply.
The Polk County Housing Trust Fund today announced a $75,000 grant from the Wells Fargo Foundation.
The grant will be used for the Polk County Housing Trust Fund’s Stable Steady Strong initiative, which makes grants to local nonprofits that help people and families find safe, affordable housing. This year, 15 local not-for-profit organizations are providing services partially funded by Stable Steady Strong.
“Wells Fargo’s commitment to supporting housing stability for all our neighbors is commendable and its leadership is vitally important to galvanizing the region’s action to ensure every person and family has stable housing,” said Toby O’Berry, executive director of the Polk County Housing Trust Fund. “We are grateful for their support and partnership in helping people and families reach their goals and thrive,” he said.
For the year ending June 30, nonprofit programs funded through Stable Steady Strong helped 1,787 local households, including 500 who were homeless prior to entering the program. According to the National Low Income Housing Coalition, Polk County currently needs an additional 11,635 rental housing units that are both affordable and available to extremely low-income renter households.
“Everyone should have a quality, affordable place to call home,” said Laura Howe, Iowa branch banking region executive, Wells Fargo. “As The Bank of Doing, Wells Fargo is working to increase access to housing in central Iowa for individuals historically shut out of the market.”
For more information, including how to support Stable Steady Strong visit pchtf.org/stablesteadystrong.