Cedar River Tower Apartments
Cedar River Tower is CCA’s first LITHC transaction in Iowa. The property is located in Waterloo IA and consists of 85 one-bedroom apartments contained within one nine-story elevator building that serves elderly and people with disabilities. All units are subsidized by a Project Based Section 8 Contract. The Development team was able to extend the Real Estate Tax Exemption and increase the Section 8 rents to post renovation market levels. The financing structure allowed for over $4.4 Million in renovations.