Politics
Des Moines City Council Approves First Property Buy for Housing Strategy
The acquisition and related projects target rental affordability barriers that affect household budgets for Des Moines residents.
How we reported this
The Des Moines City Council unanimously approved acquiring the property at 165 Martin Luther Jr. for $188,000 as the first step in a citywide housing strategy that emphasizes block-by-block revitalization instead of widespread demolition.
The city's 2026 Action Plan prioritizes affordable housing development and preservation through existing CDBG and HOME funds while analyzing barriers in rental affordability and availability. This comes as Des Moines plans to apply for FY26 federal PRO Housing funding to remove obstacles to housing, which would complement the current HUD allocations of $3.76 million in CDBG, $920,000 in HOME, and $328,000 in ESG funds.
Projects Underway in Specific Neighborhoods
Construction is nearly complete on the first three homes of an affordable housing initiative in the Columbus Park, Highland Park, and Oak Park neighborhoods, developed by the Central Iowa Community Land Trust. Separately, a $15 million, 46-unit luxury apartment project called Foundry Lofts near downtown will require at least 40 percent of units to be rent-restricted for households earning 60 percent or less of the area median income, with completion expected by late 2027.
These efforts address rental affordability and availability, areas identified as significant barriers in the 2026 Action Plan. For residents, access to rent-restricted units and additional homes can directly influence monthly housing expenses, which often form the largest share of household budgets.
Next Steps for Funding and Development
The city will continue to pursue the FY26 PRO Housing application to build on current federal allocations. Officials have stated the combined approach will support development and preservation activities that respond to documented local housing needs.
Residents in neighborhoods such as Columbus Park, Highland Park, and Oak Park stand to see the first new homes from the land trust initiative, while the Foundry Lofts project is projected to add restricted units that align with income thresholds set in the approval documents.