Pella complex opens to fanfare

It’s not often the opening of an apartment complex gets such fanfare, but state and federal leaders met in Pella on Wednesday to cut the ribbon on the new Shady Creek Apartments. It includes 48 units of “affordable” housing.Joe O’Hern is director of the Fannie Mae Iowa Partnership Office in Des Moines. He says Fannie Mae worked with the federal government, the state and the city of Pella to create the much-needed affordable living space in the south-central Iowa town.O’Hern says this new apartment complex is the final one of five to be built in Iowa as part of a sweeping effort by Fannie Mae.Fannie Mae is the nation’s largest source of financing for home mortgages. The company promised in June to do five billion dollars of residential financing in Iowa over the next five years to provide housing for 65-thousand Iowa families.