Iowa Financial Authority allocates federal funds to Van Allen apartments | Local News
CHI initially acquired the Van Allen building in 2000 and converted the old department store into 19 apartments and a commercial space on the first floor. Rehabilitation funding from the Iowa Finance Authority will help the nonprofit update accessibility features for people with disabilities, modernize equipment, improve energy efficiency and refresh historic finishes . The property offers 19 mixed income apartments on the corner of Fifth Avenue South and Second Street in downtown Clinton.
Construction on the property is expected to begin in early 2022, although a specific date has not been set.
“The successful funding of this project is particularly exciting for Clinton, a community that has championed this magnificent historic building since its construction in 1915,” said Kris Illg, CHI Construction and Rehabilitation Manager. “From the original adaptive reuse in 2002 to the current plans to update the property in 2021, the leaders of the Town of Clinton have helped us preserve and protect this irreplaceable piece of American architectural history.”
The building has 14 one-bedroom units and five two-bedroom units. Two of the apartments are rented at market rates, while the remaining 17 are subject to income restrictions.
Community Housing Initiatives is Iowa’s largest non-profit housing development and consultancy group. Since 1993, CHI has worked with communities ranging from 800 to 200,000 residents to create housing solutions that meet the needs of the community and provide comprehensive services to residents.
CHI has generated or preserved over 1,600 affordable housing units offered at below market rates. CHI has also worked with state and local governments, civic groups and nonprofit organizations across the state to promote the development of safe, affordable and accessible rental housing.
CHI currently owns and operates five properties in Clinton – Van Allen, Armstrong, Clinton Block and Roosevelt School, all of which are renovated historic buildings downtown. The property will be managed locally from CHI’s office in West Heights Townhomes, a new PMT construction located at 1155 14th Ave NW.
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