ATLANTA, April 29, 2024 (GLOBE NEWSWIRE) -- Monarch Private Capital (Monarch), a nationally recognized impact investment firm that develops, finances, and manages a diversified portfolio of projects generating both federal and state tax credits, is pleased to announce the financial closing of federal historic rehabilitation tax credit equity for the $16 million redevelopment and preservation of the Iowa Mutual Insurance Building in DeWitt, Iowa. This historic landmark will be repurposed into 53 market-rate apartments and aims to breathe new life into a century-old building. The project, spearheaded by Bush Development, LLC, is expected to be completed by spring 2025. The remodeled building, named the Iowa Mutual Lofts, will offer a diverse range of housing options, including 13 studio, 35 one-bedroom, and five two-bedroom units. Residents will also have access to amenities such as covered parking, a gym, movie room, club room and storage lockers. The project seeks to address the housing needs of DeWitt and surrounding communities while revitalizing the city's downtown area. This initiative not ...