Rath Administration Building
1515 Sycamore Street — Waterloo, Iowa
The administration building of an old meatpacking works, becoming 87 affordable homes. Stacking housing credits on top of historic credits is where most of these deals die — two rulebooks, two agencies, two compliance clocks that do not line up. It is also the only place the deepest affordability actually comes from. So you learn to do it. Inside, the corridors carry a map of Waterloo etched across the glass.
- Original use
- Admin Building
- New use
- 87 Affordable Units
- Size
- 100,170 SF
- Status
- In Design
Incentive stack
LIHTC — Low-Income Housing Tax Credit
Federal Historic Tax Credit — 20%
Iowa State Historic Tax Credit — 25% refundable
