Enhanced Capital is pleased to announce that the Wilson Lofts redevelopment project and its developer, Economic Growth Corporation (GROWTH), received the Preservation at its Best award for “Adaptive Reuse” at the annual Preservation Iowa Summit. Wilson Lofts received financing from Enhanced Capital’s Impact Real Estate group through federal Historic Tax Credits and Brownfield Redevelopment Tax Credits to support the rehabilitation of an abandoned historic property.

Preservation Iowa, an organization dedicated to preserving historic resources to enhance the state’s economic and cultural future, honored Wilson Lofts at its annual Preserve Iowa Summit in June. This prestigious award recognizes exemplary projects that maintain the architectural integrity of historic structures while repurposing them for new or compatible uses.

“The Wilson Lofts is a major redevelopment milestone for GROWTH and is the result of a collaborative planning effort spanning nearly 10 years that required hard work, determination, resilience, and coordination by many partners,” stated Brian Hollenback, President and CEO of GROWTH. “We’ve been extremely fortunate to have built a strong team of partners that believed and trusted in each other and believed and trusted GROWTH to get it done.”

The $15.6 million redevelopment of Wilson Lofts, four historic buildings all constructed prior to 1917, has had a significant impact on the community. It includes 33 residential units, 26 of which are market-rate apartments and 7 designated for workforce housing. The development also supports the community by creating the first business incubators, Clinton Culinary and Makers on 5th, providing opportunities to help small businesses start, open, and grow.

The successful blending of historic preservation with modern amenities and sustainable design features has not only preserved a landmark but also contributed to the economic future of Iowa in an area with a poverty rate of 29%.

For more information about the Wilson Lofts redevelopment, please visit the Wilson Lofts’ website or the Economic Growth Corporation website.