Iowa Finance Authority awards nearly $4 million for Sioux City housing project

SIOUX CITY (KTIV) – The Iowa Finance Authority (IFA) awarded the City of Sioux City to assist in the development of rental homes.

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The money will assist in the development of 17 rental homes for individuals and families experiencing homelessness.

The funding is made available through the National Housing Trust Fund program.

Iowa Finance Authority Director Debi Durham said housing for the state’s lowest-income earners is one of our greatest housing challenges.

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“This project will directly meet that need by offering permanent supportive housing to many individuals and families in Sioux City,” said Durham.

Funds will be used to develop Midtown Terrace located at 13th Street and Douglas Street.

The project will include a total of 24 units and will be a rowhouse-style development that includes parking, greenspace and onsite case management.

Jill Wanderscheid, Neighborhood Services Manager with the City of Sioux City, said the need for permanent supportive housing is a need in the community due to the number of high-needs individuals and families experiencing homelessness.

“The project will also act as a catalyst for neighborhood investment as this portion of the city has not seen significant investment in a number of years,” said Wanderscheid.

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The project is slated to begin construction in 2025 and be completed in 2026.

The National Housing Trust Fund is a program that complements existing federal, state and local efforts to increase and preserve the supply of housing for HUD-defined extremely low-income households, including families experiencing homelessness.

More information about the National Housing Trust Fund is available at iowafinance.com.

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