The Union at the Marina Apartment Complex Has Opened

A new 201-unit housing development has launched in Dubuque to address the city's ongoing affordable housing shortage.

Updated on Oct. 14, 2026 in Openings & Closings

The Union at the Marina Apartment Complex Has Opened

Live Poll

Should your local government provide tax incentives to developers for building affordable apartment complexes?

The Union at the Marina, a $55 million apartment complex, has officially opened at 2660 Kerper Boulevard in Dubuque. The project provides 201 units for households at or below 70% of the area median income to support local workforce retention.

Why it matters

The development represents a critical step in addressing the city's requirement for 2,500 additional housing units by 2035. This capacity is essential to support ongoing workforce recruitment and long-term economic stability in the region.

The $55 million project utilized $21 million in equity from WNC and $36 million in construction financing from Piper Sandler. The development is projected to generate nearly $4 million in local tax revenue by 2036.

The players

The Annex Group

This real estate development firm purchased the land at 2660 Kerper Boulevard to construct the apartment complex.

WNC

This organization provided $21 million in equity to support the development of the affordable housing project.

Piper Sandler

This financial services firm provided $36 million in construction financing for the development.

The details

The complex consists of two buildings that include amenities such as a fitness center, community space, and a playground. Funding for the project was facilitated through Tax Increment Financing and Low-Income Housing Tax Credits, with the developer having purchased the land from the city for $4,020,000 in 2024.

The land for the project was purchased in 2024.
The apartment complex opened in October 2026.
The city has set a target date of 2035 to reach 2,500 new housing units.
The project is expected to generate $4 million in tax revenue by 2036.

Market Landscape

This development reflects a broader municipal trend of leveraging Tax Increment Financing to close the gap on local affordable housing shortages. It positions the project as a strategic move to secure the labor pool necessary for sustained regional economic growth.

Residents qualifying for housing at or below 70% of the area median income may now apply for residency at the new complex. The addition of these units aims to alleviate local housing pressure and stabilize costs for the workforce.

The takeaway

The Union at the Marina highlights how public-private partnerships can directly mitigate local housing supply deficits. Prospective residents should check eligibility requirements regarding income limits to see if they qualify for these new units.