Council OKs five more affordable-housing projects

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The Des Moines City Council last week passed a resolution to support seven applications for affordable-housing projects to the Iowa Finance Authority.

Four of the applications approved March 8 for 2010 low-income housing tax credits (LIHTCs) were from Dominion Development & Acquisition LLC, a Plymouth, Minn.-based developer that owns more than 17,000 apartment units in 16 states.

Dominion, which was formed in 1999 and is one of the largest apartment development and management companies in the Midwest, proposed to provide about $25,000 a unit in rehabilitation for each of its four planned projects.

They include the rehabilitation of 60 units at Southridge Apartments, 1264 Cummins Road; 72 units at Lancaster Place Apartments, 2201 E. Park Ave.; 96 units at Sargent Park Apartments, 3600 E. Douglas Ave.; and 120 units at Fenway Manor Apartments, 1640 Hull Ave.

The scope of those projects, according to city documents, includes new siding, windows, kitchen cabinets and countertops.

A fifth application for MLK Brickstone II LP, a joint venture between Jack Hatch and Ryan Galloway of Hatch Development Group LLC, was also approved.

Hatch and Galloway are proposing to construct 34 new affordable-housing units on an infill parcel located between 18th and 19th streets north of Interstate 235. The first phase of MLK Brickstone project includes 18 units and is expected to get under way this month.

“The developer has completed several successful projects in the city and goes above and beyond to ensure the design of the property is complementary to the neighborhood,” according to a council communication submitted by Larry Hulse, director of Des Moines’ Community Development Department.

The council also renewed its support for Metro Lofts, a proposed 111-unit mixed-income Sherman Associates Inc. development north of Vine Street between Southwest Second and Third streets downtown, and Akers Holding LLC’s proposed construction of 60 units of low-income senior housing between Southwest Fifth and Sixth streets on Army Post Road.

The Des Moines City Council supported a total of 11 LIHTC projects for 2010.