Construction is set to begin this fall or next spring on a 101-unit apartment complex that according to the city of Windsor Heights will be the community's largest residential development.
The $20 million project is one of 10 in the Des Moines metro slated to receive recently announced Iowa workforce housing tax credits and sales tax refunds.
The Windsor Heights development, dubbed the Windsor, will occupy 5 acres at the southwest corner of 63rd Street and University Avenue, said Nick Jensen of Caliber Iowa, the company behind the project. Sitting at the crown of a hill that marks the eastern boundary of Windsor Heights, the development will serve as a highly visible gateway to the recently streetscaped downtown of the city of about 5,200.
Currently on the site are some older homes and overflow parking for Windsor Heights Presbyterian Church, which owns the parcel.
"We have quite a bit of site preparation that needs to be done, including site clearing and some dirt excavation to level the lot," Jensen said.
The complex will have four stories of apartments over a bottom-floor, climate-controlled parking structure and will feature amenities including a fitness center, resident lounge, patio and elevator. The apartments will have expansive glass and premium finishes including quartz countertops, painted cabinetry and luxury-grade vinyl tile flooring.
Jensen said rents for the one- and two-bedroom apartments will range from $1,200 to $2,000 a month and leasing will begin about 90 days before completion of construction in 2025.
"The location offers convenient amenities both to the west and to downtown Des Moines and offers great views looking both east and west," Jensen said. "We think it's very exciting to bring something like this to an area that hasn't had new development for a while."
Windsor Heights Mayor Mike Jones said it would be the largest residential complex in the city. The near-in suburb was incorporated in 1941 and has few large, undeveloped tracts remaining.
"We have limited room for new housing, so a project like this is good for urban density," Jones said.
Project among those approved for workforce housing credits
Caliber has an extensive record of residential development, including numerous projects in fast-growing Ankeny and the 49-unit Cityview 34 in downtown Des Moines.
The Windsor Heights project is set to receive the state's maximum $1 million tax credit. Gov. Kim Reynolds and the Iowa Economic Development Authority announced a total of $38 million for 59 housing projects creating more than 2,000 housing units across the state.
The 10 Des Moines metro projects on the list, with a total of 544 housing units, are slated to get a total of $6 million in funding, including a 192-unit apartment building at 1435 Mulberry St. in Des Moines that will get $1 million.
“When Iowans have the opportunity to live where they work, our people, communities and businesses thrive. Building a strong continuum of housing across the state supports our workforce, attracts new residents, and grows our economy,” Reynolds said in a news release.
Other housing projects in central Iowa approved for tax credits are:
IEDA received 107 applications requesting $70 million in tax credits. IEDA had $35 million available for fiscal year 2024, with an additional $3 million reallocation from fiscal year 2023. Of the $38 million total, $20 million in credits were set aside for projects in small communities, defined as those in Iowa’s 88 least populated counties. Project applications were scored competitively based on readiness, documented financing, community impact and developer experience, the IEDA said.
Kevin Baskins covers jobs and the economy for the Des Moines Register. Contact him at [email protected].