Year Completed: January 1, 2004

Type: Preservation and adaptive re-use of a former YMCA.

Population Base: small city, commercial and residential neighborhood

Number of Units: 46 (one and two bedroom units).

Amenities: On-site computer lab, on-site laundry, parking, appliances, and central air.

Special Features: Community Housing Initiatives is proceeding with plans to preserve the historic YMCA building and convert the building to house 48 residential units.  The River City Apartments will house one and two bedroom apartment units, 36 units will be affordable to families at or below 60% of the Cerro Gordo County AMI.  Twelve units will be available to market rate tenants.

Development and Financing Resources: City of Mason City tax abatement, HOME funds, Low Income Housing Tax Credits, Federal and State Historic Tax Credits, Save America's Treasures, Enterprise Zone Credits and conventional loans.

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

Cost: $5,700,000