IFA - Iowa Finance Authority

10/07/2026 | Press release | Distributed by Public on 10/07/2026 13:00

Iowa Finance Authority Awards More Than $6.4 Million to Expand Housing and Support Services for Iowans Experiencing or at Risk of Homelessness

DES MOINES - The Iowa Finance Authority (IFA) Board of Directors today awarded a total of more than $6.4 million to support the development and rehabilitation of 42 housing units and supportive services for Iowans who are homeless or at risk of homelessness in Des Moines and Dubuque. The funding is made available through the Federal HOME-American Rescue Plan (HOME-ARP) program.

"Expanding housing options for Iowans overcoming homelessness and other challenges is an essential part of our mission," said IFA Director Debi Durham. "These projects build on the good work local partners are already doing to help Iowans rebuild their lives. A safe place to call home and someone in your corner can make it possible to look ahead with hope, and we're proud to support these efforts."

"The award announced today will allow us to support more women and other community members who are courageously rebuilding their lives after homelessness, addiction, incarceration, domestic violence and other trauma," said Amy Landrigan, Chief Executive Officer of The Beacon.

Each new housing unit represents an opportunity for someone to heal, reclaim their independence and build the future they deserve.

Amy Landrigan, Chief Executive Officer of The Beacon

The two projects receiving HOME-ARP awards include:

The Beacon Village Phase II, Des Moines

Developer: Kiernan Development & Construction LLC

Beacon Village Phase II will build on The Beacon's longstanding work helping women rebuild their lives after incarceration, homelessness and substance use challenges. The project will transform an underutilized former hotel at East 14th Street and Euclid Avenue in Des Moines into 32 new affordable homes, expanding access to stable housing and support for women pursuing recovery and greater independence. Twenty-eight homes will serve HOME-ARP qualifying populations.

HOME-ARP Award: $4,400,003

  • $4,169,279 for Unit Development

  • $150,000 for Supportive Services

  • $80,724 for Nonprofit Operating

Henry-Stout House ReHousing Rehab, Dubuque

Developer: Henry-Stout, LLLP

The Henry-Stout House ReHousing Rehab will give new life to existing affordable homes while preserving a piece of downtown Dubuque's history. The project will rehabilitate 10 housing units at Henry-Stout Senior Apartments, housed in the historic former YMCA, and expand access to supportive services for HOME-ARP qualifying populations. By reinvesting in the building, the development will help seniors maintain stable, affordable housing and connect with support that promotes greater independence. The rehabilitation will also preserve the building's role as a place of community and connection while contributing to the vitality of downtown Dubuque.

HOME-ARP Award: $2,029,516

  • $1,503,622 for Unit Development

  • $525,894 for Supportive Services

The HOME-ARP program was created by the American Rescue Plan (ARP) to reduce homelessness and increase housing stability. IFA was allocated approximately $29 million in HOME-ARP funds in a one-time allocation. The program assists individuals and households who are homeless or at risk of homelessness and other vulnerable populations by providing housing and supportive service assistance to reduce homelessness and increase housing stability.

More information about today's awards is available here.

Location
Iowa Finance Authority

1963 Bell Avenue
Des Moines, IA 50315

Email Address
Phone(s)
515.452.0474
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