The Spin Lofts development in Council Bluffs has been named the winner of the Iowa Finance Authority’s (IFA) Innovation in Housing Pitch Competition. The recognition paves the way for the project to receive up to $10 million in federal housing tax credits over the next decade.
Led by Arch Icon Development Corporation in partnership with Lutheran Family Services, Spin Lofts will transform a long-vacant, city-owned lot into more than 40 mixed-income rental homes, including units for individuals and families experiencing homelessness.
“This award demonstrates what can happen when public, private, nonprofit, and philanthropic partners come together around a shared vision,” said Courtney Harter, housing programs manager for the City of Council Bluffs. “Spin Lofts has been years in the making, and this recognition validates the hard work and perseverance of everyone involved. Most importantly, it moves us closer to providing quality, affordable housing for the people who need it most.”
The City of Council Bluffs has made housing a top priority. Over the past three years, nearly 800 new units have gone under construction with another 2,000 in development. With rental vacancy rates at 1.7 percent and owner rates at just 0.6 percent, the need for additional housing remains critical.
Spin Lofts is the result of years of effort and collaboration, according to a City of Council Bluffs press release. After the project failed to secure a low-income housing tax credit, the city faced the potential loss of previous funding commitments. Instead of walking away, partners including Lutheran Family Services, Iowa West Foundation, and Front Porch Investments worked alongside the city and Arch Icon to create a new path forward.
“We’re grateful to the Iowa Finance Authority for recognizing the innovation and collaboration behind this project,” said Mayor Matt Walsh. “Spin Lofts is more than just housing. It’s an example of how Council Bluffs continues to show up, collaborate, and deliver solutions that make our community stronger.”
Spin Lofts is designed as a flexible, scalable model for equitable housing development that can be replicated in other communities. With Lutheran Family Services serving as the long-term nonprofit operator, the project will not only provide affordable homes but also connect residents with supportive services to help them succeed.
“This is what makes Council Bluffs different,” added Harter. “We don’t give up. We work together to build housing for all.”
