INDIANAPOLIS (September 24, 2026) – The Annex Group®, a leading impact housing developer that creates affordable, workforce and purpose-built student housing communities, today announces an open house and ribbon cutting ceremony for Union at Rivers Edge, an affordable housing community in Des Moines, Iowa. The community brings 216 one-, two- and three-bedroom units to households whose income level is at or below 60 percent of the area median income (AMI). Details of the ribbon cutting and open house include:
- Location: Union at Rivers Edge | 1600 Indianola Avenue | Des Moines, IA 50315
- When: October 1, 2026, at 11 a.m. CST
- What: Join The Annex Group, Des Moines City Council member Josh Mandelbaum, partners, media and the community in celebrating Des Moines’ newest affordable housing community with a ribbon cutting ceremony, community tour and light refreshments
“We are thrilled to cut the ribbon on Union at Rivers Edge, which has already become home to many people in Des Moines,” said Tom Tomaszewski, President of The Annex Group. “Situated in a beautiful spot, we believe residents will enjoy the scenery, proximity to downtown Des Moines and desirable amenities. We are proud to open the doors to the public and our many partners to join in celebrating the opening of this community and the positive impact it will have in Des Moines.”
The $62.9 million community is now leasing. Union at Rivers Edge apartments provide residents with amenities including a community center, complete with fitness center, business center, and on-site leasing. Outdoor amenities include playground, community terrace, dog walking area and parking. Residents will also all receive complimentary transit passes for the Des Moines Area Regional Transit Authority (DART) which will have a bus stop adjacent to Union at Rivers Edge.
“As Des Moines has experienced economic growth, it’s evolved to become a destination more people want to move to and start a life in,” said David Wesner, Senior Vice President of Development for The Annex Group. “Affordability in the area has taken a hit as the population has increased making this kind of housing even more important. We are on track to be fully leased by the end of this year, and that speaks to the convenience and desirability of Union at Rivers Edge and the appeal of Des Moines on a broader scale. We’re thrilled to help more people live affordably in this great city.”
Partners on the project include: Civil Design Advantage (CDA) as the civil engineer, ASK Studio as the architect, Summit LIHTC Consulting and Impact Housing Indiana. Affiliates of The Annex Group completed construction and will provide property management services for the community. Financing partners include WNC for over $24 million LIHTC equity, Cedar Rapids Bank and Trust for tax exempt bond financing of over $32 million, Iowa Finance Authority for tax exempt bond allocation, and the City of Des Moines for tax increment financing (TIF), tax abatement and $300,000 American Rescue Plan Act (ARPA) funds.
To learn more or schedule a tour, www.unionatriversedge.com.
ABOUT THE ANNEX GROUP®
The Annex Group® is a leading impact housing developer that creates affordable, workforce and purpose-built student housing communities. With a focus on providing innovative, amenitized housing in emerging markets throughout the United States, The Annex Group is headquartered in Fishers, Indiana. To learn more about The Annex Group, visit www.theannexgrp.com or follow them on Facebook and LinkedIn.