The Iowa Finance Authority recently recognized a collaborative project between Waterloo Community Development and Echo Development Group as an outstanding affordable multi-family development initiative. The project received a HousingIowa Award at the 2017 HousingIowa Conference in Cedar Rapids.
The HousingIowa Awards recognize outstanding programs, projects and professionals for leadership and innovation in advancing affordable housing development in Iowa. The award categories include: Innovation, Multifamily, Single-Family, Special Needs and Legislative Friend of Housing Award. An independent panel of judges selected the winners.
The Waterloo Housing Authority and State of Iowa partnership with Grand Crossing provides income assisted affordable rental units. There are 36 lease assistance units for those with low incomes in the Grand Crossing complex. Eligibility for Grand Crossing income assisted units is based on income and family size.
The Grand Crossing project also demonstrates effective use of resources. The City of Waterloo used CDBG Disaster Recovery Housing Funds from the Iowa Economic Development Authority (IEDA) for Multi-Family (Rental) Unit Production-New Construction (Round 6). Grand Crossing is located on a Brownfield environmental site. The city of Waterloo acquired and demolished the Grand Hotel at 300 W. Mullan Ave. in July 2010 after it deteriorated into a downtown eyesore that was highly visible from nearby U.S. Highway 218. Vandewalle and Associates, a Madison, Wis.-based consultant, worked with the developer and city officials to ensure the site's new use meshed with the city's overall downtown master plan.
“Grand Crossing is a truly unique project. The property provides exceptional amenities to tenants. Their use of green building practices and consciousness of energy efficiency make it a truly desirable place to live for young adults. This collaboration creates a highly attractive and affordable choice for those who want to start their careers and continue their education in Waterloo,” says Rudy Jones Community Development Director, City of Waterloo. “This is an important project for Waterloo that we are very proud of.”
For more information about the Grand Crossing project contact Rudy Jones, Community Development Director, City of Waterloo by calling (319) 291-4429 or by email to Rudy.Jones@Waterloo-IA.org. You may also contact Justin Bolger, Grand Crossing Developer by calling (319)231-8187 or by email to firstname.lastname@example.org.
More information about the HousingIowa Conference is available at HousingIowaConference.com.