Affordable Living Community Underway in Charles City, Iowa

CHARLES CITY, Iowa – WNC & Associates, in partnership with Commonwealth Development Corporation of America, has officially broken ground on The Collective on 13th, a $12 million affordable housing project located in southwest Charles City.

The development will feature 40 modern apartment homes across two multi-story residential buildings, supported by a central clubhouse. Units will be a mix of one-, two-, and three-bedroom garden-style apartments, designed for households earning between 30% and 80% of the area median income (AMI).

“At WNC, we believe everyone deserves access to safe, high-quality housing in communities where they can thrive,” said Anil Advani, Executive Vice President of Originations and Finance at WNC. “The Collective on 13th reflects that belief by combining affordability with thoughtful design, modern amenities, and strong community spaces. We’re proud to partner on this development and excited to see the positive impact it will bring to Charles City.”

Strategically located at the intersection of Corporate Drive and 13th Street, the community provides residents with easy access to shopping, jobs, schools, entertainment, and recreational spaces.

Modern Living with Community-Focused Design

Each apartment will come equipped with energy-efficient appliances including a refrigerator, oven, dishwasher, microwave, and in-unit washer and dryer. Other features include central air conditioning, vinyl plank flooring, window blinds, and dedicated storage — all tailored to provide long-term comfort and livability.

The development also places a strong emphasis on community. A centrally located clubhouse will offer a fitness room, computer center, craft room, lounge, and multipurpose gathering spaces. Outside, residents will enjoy a playground and green spaces intended to promote social interaction and relaxation.

The project is being financed through a combination of funding sources: a construction and permanent loan from Legacy Bank, support from the Iowa Finance Authority, and low-income housing tax credit (LIHTC) equity from WNC & Associates.

Construction is expected to be completed by 2026. Once finished, The Collective on 13th will offer much-needed affordable housing options in a region where demand continues to grow.

About the Developers

Founded in 1971, WNC & Associates has grown into a national leader in affordable housing development, with over $18.2 billion in assets across 48 states and a portfolio of more than 1,800 properties housing over a million residents.

Commonwealth Development Corporation of America, a key partner in this project, has developed more than 4,300 affordable housing units across 16 states. The Collective on 13th marks the 25th collaboration between the two companies.

For more information, visit: www.wncinc.com.

Originally reported by Global News Wire.