Melbourne
5515 SE 14th Street, Des Moines, IA
218 Units
$40.2 Million
Project Started: 2010
Project Completed: January 2020
Services Offered
- Development
- General Contracting
Unit Mix
1-, 2- & 3-Bed Apartments
Amenities
- 24-Hour Fitness Centers
- Picnic Area with Grills
- Splash Pad
- Community Clubhouse
- In-Unit Washer/Dryer
Melbourne is a 218-unit apartment community on Des Moines’ southeast side, developed by Hubbell to address the need for quality affordable and mixed-income housing near Ewing Park. Built across four phases over 10 years, the community delivered a mix of market-rate and affordable apartment homes, including one-, two-, and three-bedroom layouts with private patios or balconies and in-home washers and dryers. The final phase added 72 apartment homes in two buildings for residents age 55 and better, expanding access to affordable, maintenance-friendly housing for residents who wanted to stay connected to downtown Des Moines, nearby schools, and the surrounding neighborhood.
Long-Term Housing Impact
Hubbell developed and built Melbourne through a thoughtful, long-term phased approach supported by a layered capital stack that included Section 42 LIHTC, Section 1602 gap funds, Enterprise Zone tax credits and rebates, tax abatement, and bank debt. Across the full community, residents benefited from amenities including 24-hour fitness centers, computer access, a community clubhouse, business center, splash pad, playground, picnic areas with grills, and free on-site internet in select buildings. Through complex financing, phased construction, and a focus on affordability and resident quality of life, Melbourne demonstrated Hubbell’s ability to create housing solutions that meet community needs and deliver long-term neighborhood value.
