A major housing development in Jefferson has received one critical part and can now start construction.

Andy Rowland of Rowland Real Estate LLC received $600,000 in Workforce Housing Tax Credits to help build 20 housing units at the Jefferson Water Tower Subdivision. Jefferson City Administrator Scott Peterson tells Raccoon Valley Radio Rowland is using a Planned Unit Development, which allows for a higher density population in a smaller location, and will build three fourplex rental structures and eight single family homes. 

Jefferson Building Official Chad Stevens says Rowland has had plenty of experience building housing in Jefferson before this project.

“He’s had great success here. His rentals have all filled up and he keeps them full. And he even kind of ventured out to test the market and build a spec home to see if there’s a market to build houses for sale. And that house was actually, it was sold before it was complete.”

Stevens points out this new project was previously owned by another developer, JCorp to build a 44-unit housing development. Stevens says because there were no comparables for the project, JCorp couldn’t secure the financing for the project and the lot sat vacant. Rowland then purchased the property and after he was denied last year for the workforce housing tax credits, he was successful this year.

According to the Iowa Economic Development Authority, Rowland will also receive $88,200 in a sales tax refund for a total amount of $688,200. Rowland was one recipient among 58 housing projects across the state for a total of $38 million in tax credits awarded. Peterson anticipates construction to begin later this calendar year.