Former Maytag factory buildings awarded tax credits

2 Nov 2023

news, economic development

by Mike Mendenhall, Business Record

The latest round of projects to be selected for the state’s Redevelopment Tax Credit Program for brownfield and grayfield sites includes the planned redevelopment of four of the original Maytag factory buildings in Newton and mixed-use historic rehabilitations on Des Moines’ north side and Highland Park neighborhood.

The Iowa Economic Development Authority board voted October 20 to award a total of $21.01 million for 27 projects statewide for fiscal year 2024, according to an agency report, that can be used to help finance the acquisition, remediation and redevelopment of eligible abandoned, underutilized or environmentally contaminated sites in Iowa.

Former Maytag factory
Christensen Development was granted an up to 12% grayfield tax credit capped at $1.25 million for its estimated $32 million conversion of four former Maytag factory buildings into 70 market rate apartments and 50 extended stay hotel rooms.

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