DES MOINES, IOWA (September 11, 2026) — The Iowa Finance Authority (IFA) announced Merle Hay Plaza and Apartments, proposed by Gratus Development, as the winner of the 2026 Federal Housing Tax Credit Innovation Set-Aside Competition. The project will transform underutilized space at Merle Hay Mall into affordable housing for seniors, creating new opportunities for seniors to age in place with convenient access to everyday services and amenities.









