New Affordable Housing Project Opens Near Iowa State University

Ames, Iowa – A decade-long project aimed at providing affordable housing near the Iowa State University campus has reached completion. The Townhomes at Creekside, located at 3216 Tripp Street in the Baker subdivision, now features six apartment buildings with 38 units available for rent to low-income families.

The project, which cost approximately $13.6 million, was developed through a partnership between the City of Ames and HKG Development. A grand opening ceremony took place on June 25, offering tours of several units to the public. Ames Mayor John Haila expressed his excitement, saying, ‘It’s been a long time coming. It fits in well, and I think the neighbors will be thrilled with how it fits into the neighborhood also.’

Michael Kierkan, president and partner at HKG Development, praised the collaboration with Ames officials. ‘We have never worked with a city more committed than the city of Ames,’ Kierkan stated. ‘For more than a year we met with top leaders and city staff to develop this project to get it off the ground.’

Units at Creekside include options for two, three, and four bedrooms, with monthly rents set at $675 for two-bedroom units, $815 for three-bedroom units, and $895 for four-bedroom units. Residents will enjoy amenities like ensuite washers and dryers, geothermal heat pumps, and open floor plans. Additionally, Creekside’s location offers easy access to CyRide, grocery stores, schools, and shopping centers.

Ryan Galloway from HKG Development hopes these 38 units will help address some of the affordable housing needs in the community. ‘Some of our tenants will likely move on to ownership in the neighborhood,’ Galloway noted. ‘We hope we’re an important part of this neighborhood and Ames’ ability to address the importance of having safe, stable, and quality affordable housing.’

The City of Ames has a history of involvement in this project, having acquired the 10-acre Baker subdivision parcel in 2015, committing to develop a mixed-income subdivision. The first street installation began in 2017, marking the project’s official start, with the land being platted into a 27-lot subdivision in 2019.

In 2020, the Ames City Council started applying for Low-Income Housing Tax Credits (LIHTC), acknowledging the need for affordable multi-family housing. After two unsuccessful applications, Ames successfully partnered with HKG Development in 2023 and was awarded $11.5 million in funding, with the city contributing an additional $2.1 million in HOME Funds.

Vanessa Baker-Latimer, the project lead for the Townhomes at Creekside, received special recognition during the June 25 open house for her role in the development. Since 1983, she has served as Ames’ housing coordinator and is known for her dedication to housing equity. Mayor Haila remarked, ‘Under her guidance, countless initiatives and programs have flourished, significantly enhancing the quality of life for residents.’

Families interested in the new townhomes can find more information online or by calling 515-416-4563.