Meadow Wood Apartments opens second phase of housing for area families

 
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Alliant Energy and Newbury Development Company announce the completion of Meadow Wood of Carroll Apartments. The 24 one-, two- and three- bedroom apartments are located at 1102 & 1106 Woodland Drive and offer rents starting at $304/month.
Phase II of Meadow Wood was made possible through a partnership between Newbury Development Company and Heartland Properties, Inc., an Alliant Energy Company, with support from the Iowa Department of Economic Development and the Iowa Finance Authority.
"We are proud to help bring this new housing complex to Carroll," said Russ Kaney, director of housing investments for Heartland Properties. "Both our parent company, Alliant Energy, and the City of Carroll, hold economic development and affordable workforce housing as a top priority."
Meadow Wood of Carroll was constructed in two phases of 24-units each on the east side of Carroll. "Based on the strong community support and need for affordable family housing, we immediately began planning the second phase as soon as phase I was completed," said James Levy, President of Newbury Development.
The State of Iowa provided low interest loans to assist in the financing of Meadow Wood. "A community's supply of housing is critical to its economic success," said C.J. Niles, director of the Iowa Department of Economic Development. "IDED is proud to have played a role in creating quality affordable housing in Carroll," continued Niles. "It's the goal of IDED to strengthen partnerships among all levels of government and the private sector to produce housing for Iowa's workforce." C.J. Niles is the former executive director of the Carroll Chamber of Commerce.
Other financial participants are the Iowa Finance Authority, which issued housing tax credits, and the Wells Fargo Bank that provided construction and term loans. An investment of more than $1 million in Meadow Wood was made by Alliant Energy Investments.
Located just north of Highway 30, Meadow Wood offers three spacious floor plans to meet a variety of family needs. The modern designs range from a one-bedroom/one-bath unit to three bedroom units with 1.5 baths and a walkout patio or deck. The six three-bedroom units also offer the convenience of washers and dryers in the apartments. A central laundry facility is located on each floor.
The development has recreation for children, including a tot lot and basketball court. Meadow Wood also offers easy access to area schools, recreational facilities and employment opportunities. Applications for residency are being taken by Heartland Management Company, which operates an office at Meadow Wood.
Heartland Properties is a subsidiary of Alliant Energy Resources with a commitment to pursuing financial, economic development and community partnerships. Alliant Energy is a major energy services corporation providing innovative solutions to enhance peoples comfort, security and productivity. Alliant Energy's utility subsidiaries serve more then 1.3 million electric, natural gas, steam and water customers in Iowa, Illinois, Minnesota and Wisconsin.
Newbury Development, based in Des Moines, is a developer of high quality affordable housing since 1988. Heartland Management Company is an affiliate of Newbury and manages more than 2,000 affordable apartments in Iowa and Nebraska.

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