Neighborhood Finance Corporation (NFC) has joined forces with Community Housing Capital (CHC), a national Community Development Financial Institution (CDFI) based in Atlanta, GA, to provide construction financing for the transformation of the 6th Ave Townhall/Foodhall project. This $13 million redevelopment will breathe new life into the historic and long-vacant North Des Moines City Hall, along with five additional blighted properties along the corridor.
The project leverages a range of state and federal tax credits, including a $9 million 2023 Federal State Set-Aside award. Once completed, it will deliver 29 affordable residential apartments, a coffee shop, and three commercial kitchens across two connected buildings. All residential units will serve individuals and families earning below 60% of the Area Median Income (AMI), with a portion reserved for those at or below 30% AMI.
More than just housing, the food hall will offer affordable dining options, host community events, and provide a launchpad for emerging small businesses—creating lasting economic and social impact.
This effort marks a strong collaboration between two CDFIs committed to revitalizing underserved communities. After multiple failed attempts to redevelop the site, this project represents a significant step forward for the 6th Ave Corridor, an area that has gained considerable momentum in recent years. It’s a powerful example of community investment making Des Moines an even better place to live, work, and gather.