HELENA, Mont. (NMB) – Following a recommendation from an Economic Transformation, Stabilization, and Workforce Development Advisory Commission, Governor Greg Gianforte has announced the investment of up to $15 million towards 17 affordable housing projects.
The projects had already received federal grants or low-income housing tax credits, but were in need of more funding due to the increases in the cost of materials and labor.
Two of the projects are in Hill County, and both are rehabilitations of existing family housing that have received housing trust funds.
One of the projects, the 60 unit Oakwood Apartments, is receiving $250,000 in gap funding. The other project, the 32 unit Highland Manor Apartments, is receiving $832,000 in gap funding.
The developer of the Oakwood Apartments is Affiliated Developers, while the developer of the of the Highland Manor Apartments is Human Resources Development Council.
Federal COVID relief funds are covering the gap funding.
