DES MOINES, IA – TWG, a national real estate development company specializing in commercial, market rate, affordable and senior housing developments, today announces the construction of the Pointe on 88th, an $11 million affordable, multifamily project serving the West Des Moines, Iowa community.
Located at 520 88th Street, the Pointe on 88th is a three-story, 49-unit development, located just south of U.S. 80 and situated across Whisper Point Park, a five minute-drive away from Valley View Aquatic Center. The mixed-income development offers one-bedroom, two-bedroom, and three-bedroom apartments, with 44 units reserved for residents earning 30%-60% of the area median income (AMI) and 5 units available at market-rate.
The project marks continued strides by TWG to bring affordable housing to a community that historically lacks a diversity of incomes. TWG recently completed construction on Lillis Lofts, a $10 million affordable housing development in Urbandale last month.
“This project contributes to addressing the affordable housing needs in the West Des Moines area by providing options for all types of renter demographics,” said Graham Parr, Development Analyst at TWG. “The Pointe on 88th marks our 12th project in Iowa, and we are grateful to continue to have an impact on the local community and strengthen our presence in the state of Iowa.”
Amenities of the new property include a community room, on-site leasing office, and fitness room. Construction of the project is already underway, and the development is expected to be completed by Fall 2022.
TWG is one of the largest developers in the Midwest and its recent projects in Iowa, alongside Lillis Lofts, include Annex on the Square, a new $49 million mixed-income multifamily property set to cover a city block in downtown Cedar Rapids and Federal Point, a $39 million workforce housing property in Davenport.
About TWG: Founded in 2007 and headquartered in Indianapolis, TWG is a fully integrated real estate development company specializing in commercial, market rate, affordable and senior housing developments across the country. With a focus on development, financing, design, construction and management, TWG has transacted over $1.5 billion in development costs and over 9,000 units nationwide. Committed to building strong foundations with its team, equity partners and the communities it serves, TWG knows that Together, We Grow. Learn more at www.twgdev.com