Community Housing Initiatives, Inc.CHI Project - Timberland Ridge Apartments - Davenport, Iowa














Prairie Townhomes
400 Cass Street
910-914 East Locust Street
401-405 North Jefferson Street
100 Schworm Street
Ottumwa, IA

Year Completed: 2004 (under construction)

Type: New construction of affordable multi-family rental townhomes.

Population Base: Small city.

Number of Units: 19 (one, two, three and four bedroom units).
400 Cass Street (five 2 bedroom units)
910-914 East Locust Street (two 1 bedroom units
401-405 North Jefferson Street (two 2 bedroom units)
100 Schworm Street (10 units, four 2 BR, three 3BR and three 4 BR)

Amenities: Attached private garages, private patios, stackable washers and dryers, walk in closets, central air, and appliances.

Special Features: All units will benefit families at or below 60% of the AMI for Wapello County. A family social service plan will be administered by local professionals and available to tenants at no additional cost.

Development and Financing Resources: City of Ottumwa low cost lots, state HOME loan, Low Income Housing Tax Credits, Enterprise Zone Credits and conventional loans.

CHI, Inc.: Developer, general partner, property management.

Cost: $2,065,000

 

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