Des Moines funds Holiday Inn conversion to supportive housing

A nonprofit in Des Moines has secured funding to buy the downtown Holiday Inn and convert it into affordable housing. The Des Moines City Council approved $1.25 million in loans from the American Rescue Plan and block grants to help with the purchase. Greater Des Moines Supportive Housing's CEO, Emily Osweiler, expressed gratitude for the financial support, saying their acquisition is nearing completion. The nonprofit plans to transform the 12-story hotel into 160 studio apartments for individuals facing homelessness. The project aims to help residents build rental histories and access job training, transportation, and food assistance. Osweiler mentioned ideas for the hotel’s parking area, which could become a pocket park or community garden, promoting engagement with the neighborhood. Funding for renovations poses a challenge. The total cost of the project is estimated at $33.8 million. The nonprofit is actively seeking additional funding sources to cover these expenses. Housing needs in Des Moines are pressing, with reports indicating difficulty in meeting affordable housing goals. Other local projects, like the Stone Crest Apartments, are also expanding to address housing shortages.