Missoula’s New Partnership For Affordable Housing Aims For $10 Million
The Missoula Economic Partnership (MEP) and Neighbor Works Montana have announced the Missoula Housing Impact Fund with a goal of raising $10 million to help with affordable housing in Missoula.
Affordable housing has been a pressing issue in Missoula and across the state. With the influx of people moving into the state and with the rise of housing prices. Finding affordable housing has been difficult for a lot of Missoulians. Montana is one of the highest-ranking states in the nation for helping homeless people.
Read More: Reasons Why Montana Ranks High For Helping the Homeless
According to a press release from the Missoula Economic Partners ship, the $10 million goal will help provide single-family homes and rentals. There has been an initial "$5 million philanthropic donation, specifically designated for use within the city limits." First Interstate Bank has also committed an investment of $3 million to the fund. This money is to be used in helping to finance the Ravara project which is projected to "bring 89 new homes to Missoula".
NeighborWorks Montana, according to the press release, has helped with a similar project in Bozeman that has resulted in "371 new homes for low-income residents in the Bozeman community."
The $5 million donation is from a family that wishes to remain anonymous, but will help the community with workforce affordable housing. Grant Kier, CEO of MEP spoke about the family in the press release saying "While the long-time Missoula family that made this historic gift wishes to remain anonymous, they care deeply about our community and the need to make sure that a typical Missoulian can build an economically secure future here--they know that starts with housing."
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