Des Moines housing project receives $8.9 million federal grant
A 100-unit proposed apartment project on Des Moines’ south side has been awarded an $8.9 million grant from U.S. Housing and Urban Development Section 202 Supportive Housing for the Elderly program. AHEPA Affordable Housing Management Co., located in Fishers, Ind., plans to build the multifamily housing project west of Southridge Mall near the southeast corner of the intersection of Southeast Fifth Street and Army Post Road. The apartments would be built in an area where surface parking is now located. The company has developed and manages 87 affordable independent senior living communities with a total of 4,467 units in 19 states that are administered by the federal housing agency’s 202 program. The Des Moines project will be the company’s fifth HUD 202 property in Iowa. The company’s four existing Iowa locations — three in Ankeny and one in Johnston — have a total of 196 units. The company has a waitlist of 74, according to a spokesperson. The company expected to break ground on the project in about a year. Construction is expected to take up to 14 months.