Union at North Crossing in Waterloo, Iowa

The Annex Group to Build $37 Million Affordable Community in Waterloo, Iowa

by Channing Hamilton

WATERLOO, IOWA — The Annex Group will develop Union at North Crossing, an affordable community in Waterloo, which is in Black Hawk County, Iowa. Union at North Crossing will be a garden style complex offering 180 units across five buildings. Units will come in one-, two- and three-bedroom layouts. The community will be affordable to households earning at or below 60 percent of the area median income. Union at North Crossing is slated to open in summer of 2024. Iowa Finance Authority issued the tax credit award and $25 million in tax exempt bonds. R4 Capital provided $14.8 million in tax credit equity and $27.8 million construction and perm financing. The total cost of the project is expected to be $37 million.

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