Update: Osada

The Gazette, Sept. 11, 1999

Osada – a Czech word meaning community – has been trans- formed from a forlorn, abandoned warehouse between downtown and the Czech Village area, into the centerpiece for a dynamic, vibrant new neighborhood.

Located at 505 3rd Street SE, Osada was an immediate success with area residents seeking affordable rental property. The efficiencies (starting at $272 per month), as well as the one-and- two-bedroom units were filled almost immediately. Tenant screening continues on the few remaining three-bedroom units renting at $551 per month.

More Work, New Jobs for Eastern Iowa

According to a study by the National Trust Fund Project, every million dollars invested in housing development results in 36.7 additional jobs. Since its founding in 1992, MAHP has invested more than $30 million in housing, creating additional jobs for 1174 local workers.

Another study by the Chamber of Commerce found that dollars generated by MAHP turn over five times before leaving the’ community. New wages are spent on clothes and groceries, cars, stimulating and supporting our entire retail structure, while the new taxes thus generated help pay for needed civic improvements.