WATERLOO, IA – The Iowa Finance Authority recently recognized a collaborative project between Waterloo Community Development and Echo Development Group as an outstanding affordable multi-family development initiative. The project received a HousingIowa Award at the 2017 HousingIowa Conference in Cedar Rapids, in recognition of leadership and innovation in advancing affordable housing development in Iowa. There are 36 lease assistance units for those with low incomes in the Grand Crossing complex.
The Grand Crossing project also demonstrates effective use of resources. The City of Waterloo used CDBG Disaster Recovery Housing Funds from the Iowa Economic Development Authority (IEDA) for the project. Grand Crossing is located on the former Grant Hotel site, a Brownfield environmental site. Vandewalle and Associates, a Madison, Wis.-based consultant, worked with the developer and city officials to ensure the site’s new use meshed with the city’s overall downtown master plan.
“This collaboration creates a highly attractive and affordable choice for those who want to start their careers and continue their education in Waterloo,” says Rudy Jones Community Development Director, City of Waterloo. “This is an important project for Waterloo that we are very proud of.”
