Affordable housing for Kalispell seniors gets tax credit relief
An architectural rendering of Creekside Commons affordable housing development for seniors, at 110 Financial Drive in Kalispell (courtesy photo).
A Kalispell senior community is among six affordable housing projects that have been selected to receive millions of dollars in housing tax credits by the Montana Board of Housing.
On Monday, Gov. Steve Bullock announced Creekside Commons in Kalispell will receive $6,435,000 to build 36 homes for seniors.
Affordable housing developments in Billings, the Crow Agency, Laurel and Lewistown were also selected to receive tax credits. A total of $32.4 million in tax credits will be given out to the approved developers.
“Federal housing tax credits allow developers to borrow less money for construction and pass those savings along to families and individuals through lower rent,” stated a press release from the Governor’s Office.
Alex Burkhalter with Housing Solutions LLC., the developer behind the Kalispell project, said Creekside Commons was selected to receive tax credits because, “Kalispell's rapid growth, the project's design for seniors and a desire to fund projects all around the state seemed to set Creekside Commons apart from other projects.”
The Montana Board of Housing reviewed 15 initial applications for funding relief, and eight of those were invited to submit a full application in May 2020.
This is the fourth time Housing Solutions LLC. has applied for assistance to build Creekside Commons. The Missoula-based affordable home developer first applied in 2017.
The development will be located at 110 Financial Drive, directly behind the Crop Hail Building and near the Gateway Community Center. Construction is expected to start late summer 2021, according to Burkhalter.
The total project cost is $7,392628, according to the Governor’s Office press release, and the project is anticipated to create an estimated 99 jobs earning a total of $4.4 million in wages.
Rent will start at $550 per month for a one-bedroom unit and top out at $900 per month for a two-bedroom apartment. All utilities are included.
Each unit will come with appliances, including a washer and dryer. And the senior housing community will have an elevator, a manager’s office, community room and outdoor patio, library/crafting space, game room and gym for residents.
For more information about the project, go to Housing Solutions website at https://housing-solutions.org.
Reporter Bret Anne Serbin may be reached at (406)-758-4459 or bserbin@dailyinterlake.com.