Cedar Rapids Flood Replacement Housing Projects to Get $18 million

By Dave Dewitte, Reporter

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By Aaron Hepker

Story Created: Sep 9, 2010 at 5:07 PM CST

Story Updated: Sep 9, 2010 at 5:07 PM CST

CEDAR RAPIDS, Iowa - Twenty multifamily housing projects that will replace flood-destroyed housing in Cedar Rapids are in line to receive $18 million in federal funding. Gov. Chet Culver announced Thursday, Sept. 9.

The projects are part of $26.27 million awarded in Iowa to create 617 new units of multi-family housing through the Community Development Block Grant program, Culver said.

Cedar Rapids projects claimed the lion’s share of the money, with additional grants going to Des Moines, Dubuque, and Dubuque County to recover from 2008 disasters.

Some 16 different developers will receive funds to construct 358 multifamily units in Cedar Rapids. The largest is the 118-unit Edgewood Green Affordable Housing.

The Iowa Department of Economic Development administers the funds.

Agency spokeswoman Kay Snyder said the funding consists of grants that pay for a portion of the overall project costs. She said 51 percent of the units built with the funds must be rented to low to moderate income individuals or families.

“With every new project, we take another step toward stronger and safer Iowa communities,” Culver said in prepared remarks.

The following amounts were approved for the Cedar Rapids projects listed.

Amount Developer No. units
$360,000 TW Homes, Inc. 6
$360,000 Tri M Investments LLC 6
$1,320,000 Sky’s Edge Development, LLC 22
$2,880,000 Scott Byers, LC&Craig Byers,LC 48
$420,000 Schissel LLC 7
$360,000 Neighborhood Dev. Corp.of CR 6
$240,000 Neighborhood Dev. Corp.of CR 4
$300,000 Neighborhood Dev. Corp.of CR 5
$360,000 Morris Wood LLC 6
$240,000 Mavco LLC 4
$240,000 Martin Combs Custom Homes LLC 4
$240,000 Martin Combs Custom Homes LLC 4
$240,000 Martin Combs Custom Homes LLC 4
$2,880,000 Lakeview Townhomes, LLC 48
$240,000 Koelker Excavating, Inc. 4
$240,000 Kleen Properties, LLC 4
$360,000 JPM Enterprises, LLC 6
$3,000,000 Edgewood Green Aff. Hsg, LC 118
$840,000 Council Square LLC 14
$2,880,000 Charles A. Rohde, LLC 48

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