There were 5 NHL-sponsored NCAA feasibility studies done recently. 2 of them were Oakland University in Michigan and University of Illinois. The last name will be released when it's done and the two others won't be released, one of them highly suspected to be Pitt and I'm pretty positive Iowa isn't on that list. However, in the released studies, building the arena was the biggest funding obstacle (Illinois was quoted ~$85 million in one time start-up costs) and Title IX was second. Iowa is past the first hurdle because they have the arena funded and ready to be built.
With that being said, the Big 10 has been pushing to fill up their conference to help fill time on their TV channel during the winter. They're the only conference in NCAA D1 that isn't hockey-only and they're trying to consolidate their collegiate standing by sponsoring hockey. Expect anything remotely resembling interest in hockey at Big 10 schools to get blown up like this has. Rutgers started rehashing the Buccigross support again after Penn State had their (Pegula funded) success. Then the Big 10 promoted the hell out of having 3 of the Frozen 4 teams this year.
Count out non-Iowa University hockey starting up there. USHL isn't looking to expand and it took a long time to sell an overpriced expansion franchise to Lamar Hunt Jr. that will be put in KC. Plus, ticket-driven junior hockey in the US is generally in limbo right now so don't expect it in Iowa City from any league. It's too far away for the SPHL, isn't a proven hockey market so the ECHL won't even give it the time of day.
However, they do have the facility and that's the biggest thing preventing schools from going. If they find a way to get through Title IX and the scholarships, they would be a great addition to the college hockey landscape.