DES MOINES, IOWA (September 9, 2024) — A panel of industry judges recently selected the proposed Des Moines development of Goldfinch Lofts as the winner of the Iowa Finance Authority’s (IFA) second annual Innovation in Housing Pitch Competition held at the HousingIowa Conference in Des Moines last week.
Led by Iowa-based developers Cutler Development and Arch Icon, with Anawim Housing as a partner, the project will now advance in the Federal Housing Tax Credit Innovation Set-Aside application process. It’s eligible for up to $10 million in federal tax credits over ten years to support its development.
“The success of our annual Housing Innovation Competition underscores the exceptional vision and sustainable thinking in Iowa’s housing sector,” said IFA Director Debi Durham. “I congratulate all the finalists for their remarkable proposals, thank the judges for their thoughtful consideration and look forward to seeing the Goldfinch Lofts come to life.”
The Iowa Housing Tax Credit Innovation Set-Aside called for creative proposals from developers for housing projects serving special populations or using innovative construction, financing, or operations, unique partnerships or other innovations, which otherwise may not be feasible through the 9% Federal Housing Tax Credit round. Three finalists were selected to pitch and one winner was selected.
Goldfinch Lofts
Developers: Cutler Development and Arch Icon
Program Partner: Anawim Housing
The Goldfinch Lofts will be the first Zero Carbon Certified federal-housing tax-credit project in the country. The project will prioritize creating community; it will feature an urban-infill, mixed-use, and mass-timber building offering affordable housing to tenants at varying income thresholds and to those experiencing homelessness.
The pitch competition judges included: Erin Drinnin, Iowa Department of Health and Human Services; Alissa Ice, Kansas Housing; Ashley Northcutt, President and CEO, Women’s Affordable Housing Network; Ann Oliva, CEO, National Alliance to End Homelessness; Luis Rico-Gutierrez, Dean, Iowa State University College of Design; Julie Robison, Institute for Design Research and Outreach, Iowa State University; and Jennifer Schwartz, Director of Tax and Housing Advocacy, National Council of State Housing Agencies.
More information on the Housing Innovation Pitch Competition and all three finalists is available at iowafinance.com.
