DES MOINES, Iowa — November 19, 2025 — The Iowa Economic Development Authority (IEDA) has awarded more than $23 million in Historic Preservation Tax Credits to restore 11 historic properties across Iowa, supporting redevelopment projects ranging from a former high school to a 20th-century industrial landmark.
The competitive funding round, which opened in July, offered $42.75 million in available credits and received 23 applications totaling more than $49 million in requests. Projects were evaluated on construction readiness, financial capacity, community support and long-term impact on local economic growth.
“Historic preservation is economic development,” said Debi Durham, director of IEDA and the Iowa Finance Authority. “These projects protect the craftsmanship that shaped Iowa while unlocking new opportunities for housing, business expansion and community vitality.”
About the Historic Preservation Tax Credit Program
The program provides state income tax credits to incentivize rehabilitation of historically significant buildings while preserving original architectural features. All redevelopment must comply with The Secretary of the Interior’s Standards for Rehabilitation. The initiative not only safeguards historic assets but also supports job creation, downtown revitalization and new residential and commercial space.
Highlighted Projects Across Iowa
Cedar Rapids — Brucemore National Historic Site
Restoration includes three early-1900s structures in the historic Servants’ Village: the Servants’ Duplex, Lord & Burnham Greenhouse and Bookbindery. Improvements will stabilize exteriors, preserve historic materials and enhance public programming, tours and cultural experiences.
Davenport — Bucktown Lofts (Former J.F. Kelly Co. Warehouse)
A 1910 warehouse has been rehabilitated into 21 upper-story apartments and nine street-level commercial units, while addressing structural issues to ensure long-term stability in downtown Davenport.
Jefferson — Former Jefferson High School Redevelopment
Built in 1921, the former high school will be transformed into 25 modern apartments offering a mix of market-rate and affordable housing to support workforce needs and downtown growth.
Waterloo — Rath Packing Co. Administration Building
The once-vacant 1925 headquarters of one of the nation’s largest historic meatpacking companies will be converted into 87 affordable housing units. The $25 million redevelopment is expected to stimulate neighborhood-wide economic activity.
Next Application Round
The Historic Preservation Tax Credit program is administered by IEDA. The next funding cycle for large-scale projects opens in January, with applications due mid-March.
For program details, visit the Historic Preservation Tax Credit page on IowaEDA.com.
