Workforce housing developer buys third property
Daily Inter Lake | January 22, 2022 12:00 AM
Greenway Development Group — the developer responsible for almost 500 units at The Highline Apartments in Columbia Falls and Meridian Court Apartments in Kalispell — recently purchased its third property in the Flathead Valley at 820 East Idaho Street in Kalispell.
If the project receives city approval, Parkline Towers will join Greenway’s collection of “workforce” housing options. The developer seeks to strike a balance between luxury accommodations and affordable pricing.
“We provide high-quality, heavy amenity properties at rates that the average workforce can afford,” said Chelsey Bunch, Director of Marketing and Business Development with Greenway’s property management arm, Entrust Property Solutions.
Bunch said she wasn’t sure what rent will cost at Parkline Towers, which is set to comprise 250 units divided between studios, one-, two- and three-bedroom apartments.
“Building costs change so significantly,” she explained.
Rent for a studio at Meridian Court, Greenway’s first Kalispell project which is still under construction, starts at $850 for a studio apartment and $1,250 for a two-bedroom.
The project, slated to go in at the old Rygg Ford Automobile property, is expected to include a slew of amenities that will be the first of their kind for Greenway.
“The Highline has been incredibly welcomed, and we continue to model off of that,” said Bunch. However, she added, Parkline Towers will be “more rich in benefits and amenities.”
Although she stressed the amenities are at this point conceptual, Bunch said Greenway is eyeing a rooftop space with an outdoor kitchen and a dog park.
Bunch said the developer wanted to take advantage of the “stunning view” from the property overlooking Woodland Park.
Elsewhere on the property, there are hopes for a fitness center, garage parking and on-site storage.
Greenway is also considering debuting “penthouse” apartments with two stories as part of the three-bedroom option.
The newly developed Kalispell Parkline trail, which runs near the apartment site, will likely be an added benefit to residents, Bunch said.
The trail wasn’t necessarily the reason Greenway purchased this specific property, but it’s a feature that appeals to the developer. Greenway opted to build Meridian Court Apartments directly on the trail at 41 Meridian Court in order to offer immediate access to the trail. The latest property at 820 East Idaho Street doesn’t offer such direct access, but Bunch said, “we certainly see that it [the Parkline trail] could be of interest.”
The higher priority, Bunch said, was simply incorporating more housing options into the area.
Since the 820 East Idaho Street site is already zoned B-3 Core Area Business for mixed-use properties, commercial and/or residential, Bunch said getting Parkline Towers up and running should be an easier process than Greenway’s previous undertakings.
“It was actually perfect,” Bunch said of the opportunity to purchase the lot. “The area in general we know has a serious need for housing.”
Bunch said Greenway is hopeful to break ground in fall 2022 and open Parkline Towers in 2023.