NewsMontana News

Actions

Affordable housing projects moving forward in Missoula

Posted at 3:00 PM, Nov 17, 2020
and last updated 2020-11-17 17:00:21-05

The Missoula Housing Authority is providing MTN News with an update on some of its future housing projects.

After recently completing the Cornerstone Apartments in Missoula, the housing authority says they are preparing to break ground on two other projects in the spring.

The $36.5 million Villagio Apartments will be comprised of 200 units on the Northside is currently in the development phase.

Those will be funded by housing tax credits, a tax-exempt bond, City of Missoula HOME funds, City of Missoula Tax Increment Financing (TIF) funds, and a State HOME grant.

The Trinity Apartments, another 200 or so unit complex, are a collaboration between MHA, Homeward, and Blue Line Development.

MHA Executive Director Lori Davidson says both projects are running on similar time tracks, and are still a couple of years out, but she expects they will be filled fast.

"We think that there is plenty of need in Missoula. These projects will be able to house people from zero income, up to 60% of area median income,” MHA executive director Lori Davidson said.

Construction on both of those projects is set to start next spring and will take 18 to 24 months.