Sherman Associates Inc.’s $23.4 million Nexus at Gray’s Landing apartments in River Point West has been approved for $1 million in state brownfield/grayfield tax credits. The project was among 18 in the state that were approved April 17 by the Iowa Economic Development Authority. The $10 million in awards approved by IEDA tapped out the state allocation for the current fiscal year. Eligible brownfield properties include abandoned, idled or underutilized industrial or commercial facilities where expansion or redevelopment is complicated by real or perceived environmental contamination, according to IEDA. Eligible grayfield properties include abandoned public buildings, and industrial or commercial property that has been developed and has infrastructure in place but the property’s current use is outdated or prevents a better or more efficient use of the property, according to IEDA. The program provides up to $1 million per project.