Redevelopment Tax Credits Awarded to Five Dubuque Projects
Dubuque projects received five of the 25 awards granted statewide through the Iowa Economic Development Authority’s 2025 Redevelopment Tax Credit Program, securing 21.7% of the total funding awarded.
The program received 51 applications from communities across Iowa, with less than half selected for funding. Dubuque’s five submitted projects were all successful, a testament to the strength of local development efforts and the collaboration among public, private, and nonprofit partners supporting these initiatives.
In total, $19.1 million in tax credits were available statewide. The five Dubuque projects received $4.13 million to support redevelopment efforts that will transform underutilized, vacant, or environmentally challenged properties into new housing, commercial space, and community amenities.
Each application required a letter of support from the City of Dubuque. In addition, Greater Dubuque Development Corporation played a supporting role across these projects, assisting developers and partners through application refinement, coordination with City processes, design and permitting support, and ongoing problem-solving as projects advanced.
Awarded Projects
IOCO Building (100 E. 1st Street)
Brownfield Category – $1,000,000 awarded
One of the last remaining historic buildings in the South Port area, the IOCO Building redevelopment will create a recreation and gathering space while establishing a new physical and visual connection to the Mississippi River. The project addresses environmental challenges including asbestos and lead-based paint remediation and is expected to set a precedent for future redevelopment in the South Port district.
Dubuque 5th & Main Project (5th & Main Street)
Grayfield Category – $1,500,000 awarded
Long used as a surface parking lot, this site will be transformed into a mixed-use development featuring 8,000 square feet of first-floor commercial space and at least 80 rental residential units. The $24 million project, developed in partnership with Gronen Development, Inc., is located adjacent to the future osteopathic college and supports continued downtown growth.
Farley & Loetscher Manufacturing (801 Jackson Street)
Grayfield Category – $1,250,000 awarded
Once home to millworking operations, this long-vacant property will be redeveloped into 126 rental residential units as part of a $25 million investment. The project addresses decades of underutilization and supports downtown housing goals while reactivating a key site near the city core.
Iowa Street Lofts (1236–1248 Iowa Street)
Grayfield Category – $1,000,000 awarded
Located adjacent to City Hall, the Iowa Street Lofts project will create 13 new rental residential units while restoring the building façade. The $2.7 million investment contributes to downtown housing options and preserves an important historic structure.
Wilson House Apartments (1243 Locust Street)
Grayfield Category – $80,000 awarded
Vacant since 2018, the Wilson House Apartments project will remediate asbestos and create five new residential units through a $1.5 million investment. The project also plans to leverage historic tax credits to support the building’s redevelopment.
Collectively, these projects represent millions of dollars in private investment, new housing opportunities, environmental remediation, and continued momentum for downtown and riverfront redevelopment. Dubuque’s success in this competitive program reflects not only the quality of the projects themselves, but also the strength of collaboration among developers, the City of Dubuque, Greater Dubuque Development Corporation, and other community partners working together to move projects from concept to reality. Proof once again, that YOU can be great here.
For more information on the redevelopment tax credit awards, contact Jason White, VP of Business Services at jasonw@greaterdubuque.org or Daniel McDonald, Director of Existing Business at danielm@greaterdubuque.org. Both can be reached at 563-557-9049.