Iowa Finance Authority Designates Two Developers with Excellence in Development Designation
February 14, 2024 as seen on iowafinance.com
The Iowa Finance Authority (IFA) recently recognized Community Housing Initiatives, Inc., and Arch Icon Development as the inaugural recipients of the Excellence in Development designation.
“This recognition celebrates affordable housing developers who garner robust and collaborative partnerships, attention to detail and a standard of excellence in both the development process and their commitment to providing housing for income eligible Iowans through the Federal Housing Tax Credit Program,” - said IFA Director Debi Durham.
IFA will annually recognize development companies awarded Federal Housing Tax Credits who exemplify excellence and go above and beyond to advance affordable housing opportunities for Iowans. This prestigious designation is granted on a competitive basis to honor the top affordable housing development partners working in Iowa.
The designation showcases proven dedication to excellence, participation, and results. This includes meeting deadlines for allocation checkpoints, submitting applications that are thorough and complete for review that require minimal comments, and actively participating in policy planning, training and feedback opportunities.
Community Housing Initiatives, Inc.
Community Housing Initiatives (CHI) is Iowa’s largest non-profit housing development and consulting group, headquartered in Spencer. Since 1993, CHI has closely collaborated with communities ranging in population from 800 to 200,000, dedicated to creating housing solutions that meet community needs and provide comprehensive services for residents. CHI has generated or preserved over 1,800 affordable housing units offered at rates below the market rate.
“CHI is proud to work in partnership with IFA to build quality affordable housing for Iowans,” said Sam Erickson, CEO of Community Housing Initiatives. “CHI has invested $280 million in Iowa communities in addition to reinvesting all income from development and rental properties directly back into Iowa communities for more than 30 years and we are just getting started.”
Arch Icon Development
Founded in 2010 by Darin Smith and Dustin and Mindy Crook and headquartered in Woodbine, Arch Icon Development strives to develop market-rate and affordable housing, along with commercial space development in the Midwest.
“We founded Arch Icon Development with the belief that the creation of housing is key to economic, community, and neighborhood development,” said Darin Smith, Arch Icon Principal. “To date, Arch Icon has leveraged $146.5 million to create 761 apartments in Iowa and Nebraska and we look forward to collaborating with IFA and other partners to create even more homes that Iowans can be proud to call home.”