Project Proposed for Missoula

Skyview, a new Senior Affordable Rental community, is proposed for the 1600 Block of Cooley Street in Missoula’s Westside Neighborhood.  The approximately 100 unit apartment development will serve those age 55+ with a mix of one and two bedroom apartment homes.  The homes will have three rent levels, with units reserved for those with incomes below 40%, 50% and 60% below Area Median Income.  Rents will range from $525 to $865 per month with all utilities included.  The proposal is sponsored by Missoula based Housing Solutions, LLC.  The sponsor develops quality affordable rental housing in Montana and multiple surrounding states.

Alex Burkhalter, Principal of Housing Solutions, LLC, states “We are excited to be working on this project.  Affordable housing affordability in Missoula is a real challenge, but when you combine this with our age 65+ senior population growing at a rate of 5 times the general population we have to be paying extra attention to the current and future needs for affordable senior housing.”

The development will be financed with a combination of Federal Housing Tax Credits and Tax Exempt Bonds.  Skyview will compete against other proposals from across the state for limited Housing Tax Credits.

“Securing the necessary Housing Tax Credits is a very involved process.  If all goes as planned, we would be looking to break ground on Skyview in Summer 2019,” adds Burkhalter.