Former Roosevelt Elementary site rezoned, setting stage for affordable housing development

Iowa City officials approved the rezoning of the former Roosevelt Elementary School site to pave the way for a 187-unit affordable housing project called "Roosevelt Ridge. " TWG Development, based in Indiana, plans to build a three-story apartment complex with one-, two-, and three-bedroom units. The project targets a variety of demographics, including seniors and working families in need of housing. The City Council expedited the rezoning, waiving a third vote, to transition the land from public to medium-density, multi-family residential use. Roosevelt Elementary served students for nearly 90 years before closing in 2012, and the building has remained vacant since.

TWG purchased the site in 2021 for approximately $1. 25 million but faced delays due to changing construction conditions. The project will leverage Low-Income Housing Tax Credits from the U. S. Department of Housing and Urban Development.

Iowa City staff will have the final authority over building permits and site plans, ensuring the project aligns with local needs.