74-unit Union Place townhome project coming to Charles City with state workforce housing support
Charles City is set to get a major boost in available rental housing. The Iowa Economic Development Authority (IEDA) named a local project among those receiving Workforce Housing Tax Credits, paving the way for Union Place, a 74-unit rental townhome community to be built in town.
The development will be led by Kading Properties (Urbandale) on land donated by the City of Charles City and the Charles City Area Development Corporation. The site sits within a half-mile of several of the community’s largest employers — Cambrex, Floyd County Medical Center, and Zoetis — placing new homes close to where many residents work.
IEDA Director Debi Durham said the program’s goal is to expand access to quality, affordable homes so families can settle in communities, while businesses benefit from a more stable local workforce. The agency emphasizes that this kind of housing supply supports community stability and overall economic growth.
IEDA awarded $35.9 million in credits supporting 63 projects in 36 counties, expected to create 1,969 new residential units statewide (1,217 in larger communities and 752 in smaller towns). Applications were evaluated on readiness, financing, community impact, developer experience, and innovation.
Project timelines, construction schedules, and leasing details for Union Place will be shared by the developer and the City as they’re finalized.
For more on the Workforce Housing Tax Credit program, visit iowaeda.com/workforce-housing-tax-credit.
