In 2020, Altoona Experienced Record-High Investment in Residential Development

october 2020 permit report

The City of Altoona is pleased to announce that the community recently experienced record-high investment in residential development. In 2020, the City issued 241 permits for residential development, valued at nearly $105 million—a nearly 100% increase from 2019 and the highest valuation of residential permits ever issued by Altoona in a single year. With the added 241 permits, the City has set another record high with 637 new residential housing units.

In addition to the residential permits, the City issued 100 commercial permits in 2020, valued at nearly $25 million. In total, the City issued 341 building permits in 2020, representing 315,000 square feet of new or improved space valued at more than $128 million.

Some of 2020’s most significant Altoona residential permits include:

  • A 55,060-square-foot permit issued to Hubbell Construction Services, valued at nearly $7.7 million for the Tuscany conservation community. This active, eco-conscious development offers single-family homes, villas and twinhomes with easy access to Altoona’s extensive trail system.
  • A 51,108-square-foot permit issued to Insite Construction, valued at over $6.5 million for a new modern community apartment development – offering one, two, and three-bedroom apartments.
  • A 46,548-square-foot permit issued to Signature Companies of Iowa, valued at nearly $5 million. The Blue Ridge development provides single-family, twinhomes and rental living opportunities.

The record investment is a sign of continued growth in Altoona. Since 2000, Altoona’s residential population has increased by 85% to more than 19,000 residents. Families are drawn to Altoona for its convenient location close to Des Moines, as well as its employment opportunities and high quality of life, including affordable housing, excellent schools, beautiful natural areas and bustling entertainment scene.

As Altoona’s residential population continues to grow, new businesses and developers are looking to the community. Since 2015, the City of Altoona has issued 6,462 permits valued at $941 billion, representing 5.8 million square feet of development.

City Administrator Jeff Mark says that the recent investment in Altoona is a sign of good things to come.

“Even amid the 2020 pandemic, Altoona maintained the momentum we built over the last two decades,” Mark says. “To me, this sends a clear message: Families and businesses are looking to Altoona as a good home for today and a smart investment for the future.”

Learn more about doing business in Altoona here.