The Spin Lofts development in Council Bluffs has been named the winner of the Iowa Finance Authority’s (IFA) Innovation in Housing Pitch Competition. The recognition paves the way for the project to receive up to $10 million in federal housing tax credits over the next decade.
Led by Arch Icon Development Corporation in partnership with Lutheran Family Services, Spin Lofts will transform a long-vacant, city-owned lot into more than 40 mixed-income rental homes, including units for individuals and families experiencing homelessness.
“This award demonstrates what can happen when public, private, nonprofit, and philanthropic partners come together around a shared vision,” said Courtney Harter, housing programs manager for the City of Council Bluffs. “Spin Lofts has been years in the making, and this recognition validates the hard work and perseverance of everyone involved. Most importantly, it moves us closer to providing quality, affordable housing for the people who need it most.”…