Council Bluffs continues to move forward on a major development project on the northeast corner of Lake Manawa. The city has been working on subdividing and developing plans to create 500 to 600 new housing units.
Last week, the city council approved an agreement with the Iowa Economic Development Authority for a $6.87 million award to help pay for infrastructure, construction of new homes, and to provide down payment assistance of up to $35,000 per buyer.
In addition to the IEDA award, the project will be funded by a local match of nearly $9 million, which is sourced from Community Development Block Grant Entitlement funds, an Economic Development Initiative – Community Project Funding grant and the city’s own Housing Development Program.
The major infrastructure project will be a connector between Mohawk Road to the west and East Manawa Drive to the east.
Last Fall, the city approved plans for Phase 1 of the development from local developer Turn the Paige Homes to build 40 single-family houses. All units will be sold to households at or below 80 percent of the median income for a $175,000.00 sales price.
Grading at the site is currently underway.
