progress: COMMUNITY
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CHARLES CITY PRESS | WWW.CHARLESCITYPRESS.COM | FRIDAY, MARCH 21, 2025
Dave Ruble photo for the Press A large family room with egress windows highlights the basement in one of the Sherman Creek Townhomes.
Dave Ruble photo for the Press
A view from the second fl oor of one of the units in the Sherman Creek Townhomes.
land, what will and won’t work.” City and county of fi cials who have toured some of the near- ly 30 Kading locations in Iowa have praised the residences and the company that owns them. “There’s a real need in Iowa – all over the country – for hous- ing,” Hauschilt said. COLLECTIVE ON 13TH Not far away, the Collective on 13th will be a 40-unit af- fordable housing project being developed by Commonwealth Development Corp. of Wiscon- sin, on land near the Southwest Development Park. The Iowa Finance Authority awarded $2.1 million in fund- ing toward the construction of the project last July because of the city’s designation as an Iowa Thriving Community. Tyler Sheeran, vice president of development for Common- wealth, said the company is planning to start construction this year with completion in 2026. Commonwealth has an active
presence in 24 states with more than 125 projects completed, he said. According to Diers, three structures are planned, one 3-sto- ry building with 24 units; one 2-story building with 16 units; and one clubhouse/activity build- ing. Andrews said the project is dependent on receiving the tax credits, after which there will be a development agreement with the city. “They’re a well-known com- pany in the state,” Andrews said. “There is a pretty good chance of getting the tax credits.” NORTH GRAND One project that has been stalled may fi nally be ramping up. The reworking of the for- mer middle school into about 40 market-rate apartments got a big boost in December with the announcement that the Iowa Economic Development Authori- ty had awarded the project al-
most $1.7 million in income tax credits. The Historic Preservation Tax Credit program provides income tax credits to projects that reha- bilitate underused or vacant his- toric buildings while maintaining the historic character-de fi ning features that enhance neighbor- hoods and communities, accord- ing to IEDA. The delay in receiving the credits had brought the project almost to a standstill. The units will range from stu- dio apartments to one, two and three bedrooms, with high ceil- ings, hardwood cabinets, granite countertops and an average of just under 1,000 square feet. Also available with be a fi t- ness center, a meeting room and access to the existing former middle school auditorium. Developer Shawn Foutch said the work on the project would pick up this year with an antic- ipated opening in the spring of 2026.
The Medical Center in turn gave the hospital to the city to be part of this housing deal. Additionally, the city is of- fering the developer a 10-year 100% abatement of the proper- ty taxes on the additional value added to the property. Charles Hauschilt, a develop- ment specialist for Kading, said they are working with Charles City to develop a project that could include about 150 units in a likely combination of duplexes, four-plexes, six-plexes or slight- ly bigger buildings. “That’s what we do. We devel- op, build and maintain the units, and lease them for fair mar- ket-rate rent,” he said. “The fi rst step is identify- ing the site and getting the land under contract,” Hauschilt said. “Then we enter a due-diligence period. We learn more about the HOUSING Continued from page C1
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