Asbury Meadows

Asbury Meadows 2325 Radford Road, Asbury, IA

In March 2005, the Corporation was awarded Low Income Housing Tax Credits (LIHTC) from IFA and HOME funds from the Iowa Department of Economic Development to construct a 32-unit 2, 3 and 4 bedroom housing development for low to moderate income households in Asbury.

The new for-profit entity was formed as a subsidiary of EIRHC, the Asbury E.I.R.P., L.L.L.P., is the General Partner in the housing project. The for profit entity, Eastern Iowa Development Corporation (formerly known as Evergreen Meadows, Inc.), was also developed and is a wholly owned subsidiary of the EIRHC. Lease-up of the units began July, 2006 with final lease-up October 2006.

The Syndicators, Enterprise Housing Partners XI Limited Partnership (EHPII), limited partner interest in the Asbury E.I.R.P., L.L.L.P. was fulfilled on December 31, 2020 and transferred to the new General Partner, the Eastern Iowa Regional Housing Corporation (EIRHC).

On January 1, 2021, the Asbury E.I.R.P., L.L.LP. transferred the Limited Partnership interest for debt only, for the Asbury Meadows Tax Credit property to the Eastern Iowa Regional Housing Corporation.  The EIRHC intends to maintain the property as affordable housing over the extended use period.

Asbury Meadows – 2325 Radford Rd, Asbury, IA – 32 units – floor plans

Amenities for both properties include central air conditioning, garbage disposal, washer/dryer hookups in units, coin operated washers/dryers located in the Community Room, dishwasher, microwave, ceiling fans, off-street parking, storage, computer center with internet, playground and pavilion area, maintenance staff (on-call) and a Site Manager is available Monday-Friday during office hours.

Asbury Meadows Income Limits

County Median Household Size
  1 2 3 4 5 6 7 8
40% 25,960 29,640 33,360 37,040 40,040 43,000 45,960 48,920
VLI – 50% (Home) 32,450 37,050 41,700 46,300 50,050 53,750 57,450 61,150
VLI – 50% (HERA) 36,300 41,500 46,700 51,850 56,000 60,150 64,300 68,450
Pub. 5/17/23                

After the application is received, applicants are placed on a waiting list. When the applicant reaches the top of the waiting list they are then mailed a preliminary briefing packet which they need to complete and return to the office. After the screening process is completed, applicants are then offered a unit.