More than $8.9 million in federal housing tax credits was awarded this week by the Iowa Finance Authority to support the construction of 12 housing projects in 10 communities.

The projects will result in the construction of 470 new affordable housing rentals.

The Internal Revenue Service makes an annual per capita allocation of federal tax credits to each state for the Federal Housing Tax Credit program. The Iowa Finance Authority allocates credits to affordable housing developers, who sell the tax credits to investors to generate equity for the housing developments.

The Iowa agency received 25 applications requesting more than $17.9 million in housing tax credits. It had about $9 million available to award. 

The new construction projects receiving the tax credits include:

Carol North Apartments, a 44-unit project in Coralville. Developer: St. Michael Development Group LLC and Belisle Development LLC. Amount received: $840,000.

Pine Knoll, a 21-unit project in Davenport for those over 55. Developer: Ales Development LLC. Amount received: $389,229.

Sixth Avenue Flats, 42-unit project in Des Moines. Developer: Hatch Development Group LLC and Kieman Development & Construction LLC. Amount received: $825,878.

Roosevelt West, a 39-unit project in Dubuque for those over 55. Developer: Horizon Development Group LLC. Amount received: $704,519.

Williams Terrace, a 45-unit project in Indianola for those over 55. Developer: Woda Cooper Development Inc. and Housing Services Alliance Inc. Amount received: $834,574

Johnston Crossing, a 45-unit project in Johnston for those over 55. Developer: Woda Cooper Development Inc. and Housing Services Alliance Inc. Amount received: $834,574

Colorado Senior Lofts, a 45-unit project in Muscatine for those over 55. Developer: MVAH Development LLC. Amount received: $840,000.

Grandview Senior Lofts, a 45-unit project in Muscatine for those over 55. Developer: MVAH Development LLC. Amount received: $840,000.

Steamboat Village Apartments, a 37-unit project in Muscatine. Developer: Woda Cooper Development Inc. and Housing Services Alliance Inc. Amount received: $577,059.

Spring Creek Apartments, a 32-unit project in Pleasant Hill for those over 62. Developer: Torrent Developers LLC. Amount received: $629,699.

West Des Moines Lofts, a 45-unit project in West Des Moines. Developer: TWG Development, LLC.  Amount received: $840,000.

Chandler Pointe, a 31-unit project in Wilton for those over 55. Developer: Torrent Developers LLC. Amount received: $629,699.