Restoration of Iowa Inn/YMCA complete, ribbon cutting planned

Collaborative effort creates additional affordable housing for seniors in downtown Dubuque
 
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Community and business leaders will gather at 11 a.m. at 125 W. Ninth Street in downtown Dubuque on Thursday, July 25 for a ribbon-cutting ceremony to celebrate completion of a $4.3 million historic property redevelopment. The event is open to the public.
The property - built in 1894 and known to Dubuque-area residents as the former Iowa Inn/YMCA - is now Henry Stout Senior Apartments, a high-quality, affordable housing complex for adults age 55 and older.
MetroPlains Development, L.L.C. of St. Paul, Minn., renovated the historic structure taking careful measures to retain its architecturally significant features. A $3.5 million investment by Heartland Properties, Inc. - the housing subsidiary of Alliant Energy Resources financed the redevelopment. The city of Dubuque, Iowa Finance Authority, Iowa State Historic Preservation Office, Iowa Department of Economic Development and the US Department of Housing and Urban Development provided the remaining financial support.
"We're proud of this important investment in the Dubuque community," said Ruth Domack, president, Heartland Properties, Inc. "The emerging need for affordable senior housing in our country is undeniable. We value the opportunity to partner with forward-thinking communities like Dubuque in meeting the demand. We hope to redevelop similar historic treasures throughout the state of Iowa."
Henry Stout Senior Apartments feature 33 one - and two-bedroom apartments. An inner courtyard, accessible from the alley that runs behind Dubuque's Main Street, allows grade-level entry and private outdoor space for residents. The building is elevator equipped, with community and card rooms and air conditioning. A variety of local and federal programs are available to provide financial assistance and keep rent affordable for seniors living on restricted incomes.
A tour, including refreshments, will be held immediately following the ribbon-cutting ceremony. Attending and providing brief comment will be: Mayor Terry Duggan, city of Dubuque; Gary Stenson, MetroPlains Development; Ruth Domack, Heartland Properties; Jack Porter, Iowa State Historic Preservation Office; John Larsen, Alliant Energy; Mike Tramontina, Iowa Finance Authority; and Bill McNarney, Iowa Housing and Urban Development.
Gary Stenson, president of MetroPlains Development, said the renovation, which began in June 2000, finished on schedule with the first residents moving in on July 15. "It was exciting to see the transformation of this grand old building," said Stenson. "We've created attractive and functional apartments while preserving the historic beauty of this building. Henry Stout is a place many can be proud to call home."
The property is named in honor of Henry L. Stout, a prominent and philanthropic Dubuque businessman. The Stout family home was once located at the site and Mr. Stout donated the land to the YMCA in 1894.
According to Dubuque Mayor Terry Duggan, renovating Henry Stout Senior Apartments was part of an ongoing effort by the city of Dubuque to revitalize its downtown area. "This ambitious undertaking is an illustration of how city, state and private entities can partner and work hand in hand for the betterment of a community."
John Larsen, executive director for Alliant Energy added, "Affordable housing options are critical to the overall well being of a thriving community. Preserving this landmark building demonstrates a collective commitment to future generations and a strong respect for the past."
Horizon Asset Management of Dubuque is managing Henry Stout Senior Apartments. For application information, call (563) 556-1188.
MetroPlains Development, LLC is based in St. Paul, Minn. The company has extensive experience in historic rehabilitation, adaptive reuse, housing and commercial development throughout the Midwest.
Heartland Properties, Inc., is a sponsor of high quality affordable housing for people and families in the Midwest. Since its founding in 1988, it has sponsored real estate developments in local communities valued at more than $350 million, representing more than 5,700 high-quality affordable apartment homes. Heartland Properties is a subsidiary of Alliant Energy Resources with a commitment to pursuing financial, economic development and community partnerships.
Alliant Energy is a growing energy-services provider with domestic and international operations. headquartered in Madison, Wis., Alliant Energy provides electric, natural gas, water and steam services to more than three million customers worldwide. Alliant Energy Resources, Inc., home of the company's diversified businesses, has operations and investments throughout the United States as well as in Australia, Brazil, China and New Zealand.

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