More Than $18.5 Million in Tax Credits to Support 8 Historic Projects Across Iowa

November 2, 2026 (DES MOINES, IA) - The Iowa Economic Development Authority (IEDA) announced more than $18.5 million in awards through the State Historic Preservation Tax Credit program to support the revitalization of eight historic properties in Burlington, Des Moines, Dubuque, Iowa City, Ottumwa and Waterloo.

The most recent application round opened in July, with IEDA receiving 16 applications requesting almost $51 million in tax credits. Projects were evaluated based on readiness, financing and local support and participation.

"I love seeing these historic buildings find a new purpose and continue to be part of their neighborhoods," said Debi Durham, director of IEDA and the Iowa Finance Authority. "Whether they're creating new places to live, opening doors for small businesses or bringing activity back to downtown, these projects show how we can preserve what makes our communities special while making room for what comes next."

The State Historic Preservation Tax Credit program provides a state income tax credit to encourage the rehabilitation of historic buildings while maintaining the architectural features that make them significant. All work must meet The Secretary of the Interior's Standards for Rehabilitation.

This round of awards will help transform historic buildings across Iowa, including:

• Burlington - The former Burlington High School opened in 1910 and later served as Apollo Middle School and an alternative high school before sitting vacant for decades. It is being rehabilitated into 45 affordable one- and two-bedroom apartments for residents age 55 and older. Listed on the National Register of Historic Places in 2024, the building was also named one of Iowa's Most Endangered Properties in 2017. The project is part of ongoing efforts in the Saunderson Heights neighborhood, guided by a formal neighborhood revitalization plan incorporated into the city's comprehensive plan in 1998.
• Des Moines - Built in 1901 for a wholesale grocery operation, the Davidson Bros. Company Warehouse later housed offices and furniture-related retail operations before becoming vacant after years of declining occupancy. Listed on the National Register of Historic Places in 2024, the downtown building is being rehabilitated into office space. Work includes masonry repairs, window replacement, updated mechanical, electrical and plumbing systems, and enhanced life-safety features.
• Dubuque - The James M. Sullivan Block began as three multistory rowhouses in 1896 and was later converted into 18 studio and one-bedroom apartments. Before rehabilitation, most units had been vacant for years and were no longer in rentable condition. Completed in August, the project restored the building's original porches, removed later additions and repaired its masonry. The building now contains nine apartments, preserving the character of its historic district while helping address local housing needs.
• Iowa City - The Union Bakery building, built in 1862 and listed on the National Register of Historic Places in 2015, is being rehabilitated in the historic Northside neighborhood, just north of downtown. Two renovated commercial spaces on the main level have welcomed new small businesses, reactivating storefronts that had been vacant for years and providing smaller, more affordable spaces. The project also includes 12 apartments on the upper two floors, under construction, and upgrades to the building's mechanical, electrical, plumbing and fire safety systems.

The State Historic Preservation Tax Credit program is administered by IEDA. The next application round opens in January, with applications due in March.

For more information, visit iowaeda.com/historic-preservation-tax-credit/.

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Download a full list of Fall 2026 Iowa Historic Preservation Tax Credit awards.