Des Moines Greystones
Des Moines, IA • 2013
 

One of four national finalists for Best Urban Development (Affordable Apartment Magazine, 2013
 
The Des Moines Greystone Homes is a LIHTC project consisting of 26 single-family homes built on infill lots across four inner-city neighborhoods: King-Irving, Sherman Hill, Forest Avenue, and Drake. This project was the first of two Rent-to-Own developments funded by the Iowa Finance Authority (IFA), providing families with a pathway to homeownership. After the 15-year compliance period, tenants have the opportunity to purchase their homes.

As the only Iowa developer with multiple Rent-to-Own projects, HKG Development has already helped 63 residents transition into homeownership ahead of schedule, reinforcing the impact of affordable homeownership initiatives.

The Greystone design is inspired by the classic Chicago Greystones, which became a defining architectural style after the Great Chicago Fire of 1871. This durable, pre-cast concrete or concrete block construction offers a fire-resistant, termite-resistant, and weather-resistant alternative to traditional stick-built infill housing.

By moving away from cookie-cutter infill designs, this project successfully integrates historically inspired, high-quality housing into the fabric of Des Moines’ urban neighborhoods.
 

• $9 million LEED-certified development

• Energy-efficient utilities to lower long-term costs for residents

• Three & Four bedrooms, separate garages, in-house washer & dryer, compete kitchen appliances
   

By combining historic design elements, energy efficiency, and a Rent-to-Own model, Des Moines Greystone Homes stands as a nationally recognized approach to sustainable, affordable homeownership.