Congratulations are in order to Economic Growth Corporation for its receipt of a “Preservation at its Best” award from Preservation Iowa for the rehabilitation of the Wilson Lofts in Clinton, Iowa. The development entailed the reuse of the historic Wilson Building into a 33-unit apartment complex, containing both market-rate and workforce housing rental apartments. The retail space in the building also houses Makers on Fifth and Clinton Culinary, the first two business incubators in Clinton. Clocktower Tax Credits is proud to have helped provide the Federal Historic Tax Credit and Iowa Brownfield Tax Credit equity, two of more than ten sources of financing for the Wilson Lofts.
Preservation Iowa, a statewide organization dedicated to the preservation of historic resources across Iowa, honored the project and Economic Growth Corporation at its Preserve Iowa Summit in June. The award was in the Adaptive Reuse category, highlighting the impactful vision of the project to transform the vacant building into both a home for many and a business incubation space for local entrepreneurs.
“The Wilson Lofts is a major redevelopment milestone for GROWTH and is the result of a collaborative planning effort spanning nearly ten years that required hard work, determination, resilience, and coordination by many partners,” stated Brian Hollenback, President and CEO of GROWTH. “We’ve been extremely fortunate to have built a strong team of partners that believed and trusted in each other and believed and trusted GROWTH to get it done.”
Clocktower is ready to help developers of all kinds across the state of Iowa with the plethora of Federal and State tax credit programs available for Iowa developers to use for visionary real estate developments. If you have any questions or need support for your Iowa project, please reach out to David Curtis at (978) 440-0742, or email him at DCurtis@ClocktowerTC.com.
