HPI coordinates affordable housing effort in Atlantic, Iowa

 
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IES Industries Inc., the parent company of IES Utilities will purchase a 32-unit affordable housing complex near East Ridge Development in Southeast Atlantic.
Cohen-Esrey Housing Partners, L.L.C. will construct the two building complex. The Cohen-Esrey construction effort will be coordinated by Heartland Properties Inc., which is a subsidiary of WPL Holdings. WPL Holdings is one of the companies planning a merger with IES Industries.
The new property will be named Sundance Development.
"Sundance Development is an example of the benefits for Iowa -- and rural Iowa in particular -- that we anticipate from the merger," said Jim Hoffman, president of Alliant Industries. "The initiative combines Heartland Properties and WPL's holding expertise in affordable housing with IES Industries commitment to economic development. The result is a stronger foundation for economic growth in Atlantic."
Atlantic Mayor Chuck Smith, and Dan White, Cass Atlantic Development Corp. executive director, during a visit to the planned construction site late Friday, concurred with Hoffman's assessment.
"I believe it speaks well of IES and its commitment to Atlantic when they make a contribution of this size," Smith said.
"The project is a welcome addition to our community. We Welcome IES's investment as a way to further support our growing work force," Smith said.
"Housing is a critical issue for economic development, especially in Atlantic, especially when you consider our recent job growth," White said. "When you consider the last new multi-family development was here in the mid 1980s, the project is especially welcome."
It's wonderful for Atlantic." White said. "What it means is more housing, more affordable housing. This will allow many people who are now working here, but commuting, to live in Atlantic. In turn it will help the city's economic development."

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