HELENA, Mont. – Thanks to a partnership among private and public organizations, 118 affordable and accessible Helena apartments have been fully renovated and will remain available for the next 45 years to low-income seniors and those with a disability.
Montana Department of Commerce Director Pam Haxby-Cote toured Tuesday the newly-renovated Guardian Apartments in the heart of downtown Helena.
“I can’t think of a better way to honor Fair Housing Month than to visit homes that will remain affordable and accessible,” Director Haxby-Cote said. “We can now count on these 118 homes for the next half-century, which serves an important community need.”
The $9.8 million renovation was funded through Montana Board of Housing housing tax credits, HOME Investment Partnerships Program, and the Department of Housing and Urban Development (HUD). The project is being financed through Stockman Bank. The property is managed by the Human Resource Development Council District IX in Bozeman.
The renovation not only provided needed housing for low income seniors and people with a disability, the project also created 73 jobs, generating more than $6 million in wages.
GUARDIAN APARTMENTS BACKGROUND
- The Guardian Apartments were built in the early 1970s.
- The one-and-two-bedroom units are available to those who are at least 62-years-old or those living with a disability.
- More than 90 percent of residents are living at or below 30 percent of the average median income, or about $14,700 annually.
- All 118 units use project-based rental assistance, meaning tenants pay 30 percent of their income and HUD covers the remaining balance.
- Monthly rent ranges from $550 to $650.
For more information on affordable housing in Montana, visit http://commerce.mt.gov/ or contact the Montana Department of Commerce at 406-841-2700.