Urban revitalization of South Main salvage yard into 80 unit independent senior housing facility.
The 712 Initiative purchased, cleared and remediated contamination of an old gas station and salvage yard on the 800 block of South Main in 2003 with hopes of constructing a senior housing facility to complement the new senior center a block north. This proposed use was outlined in the City’s Downtown Master Plan and Urban Renewal Plan. The proposed housing project was $12 million, of which $4.6 million was financed by State of Iowa low income housing tax credits.
This project not only revived the immediate site but the district as a whole, allowing interest and investment in 805 S. Main, 823 S. Main new mixed use development and the Harvester warehouse revival into the Harvester Artist Lofts and the Pottawattamie Arts Cultural Entertainment (PACE) Hoff Arts Center.
Sources of Funds: 712 Acquisition Loan, Low Income Housing Tax Credits, Tax Increment Financing, Iowa West Foundation site assembly & demolition grant