THE AVENUE APARTMENTS
CEDAR RAPIDS, IA
The Avenue Apartments is a newly-constructed affordable housing community consisting of 152 homes – 76 one bedroom/one bath apartments and 76 two-bedroom/two bath apartments in two, four-story, elevator-serviced buildings. Homes at The Avenue Apartments are provided to Iowans earning 60% or less of area median income. The building also has two free-standing garage and carport buildings on site. Public transit is available in close proximity to the property and there are 199 parking spaces available to residents free of charge on site. Elementary, middle, and high schools are located close to the property as well.
Community amenities include an on-site management/leasing office, community room with kitchenette, sink and refrigerator, a fitness center, swimming pool, playground, and surface parking. Social and supportive services are provided by an on-site service coordinator at no cost to residents. Services include health education, tutoring coordination and coordination of transportation to local services such as food pantries, farmer’s markets and/or grocery stores.
This property was financed using the Low-Income Housing Tax Credit (Housing Credit). Financing for The Avenue Apartments was facilitated R4 Capital and R4 Capital Funding. The developer is TWG Development, LLC of Indianapolis, IN.