Montana Department of Commerce staff joined local residents and community leaders at a groundbreaking event to celebrate the future of the Alpenglow Apartments, 38 new affordable homes for families and individuals in Whitefish.
"To support a growing economy and our vibrant communities, Montanans need an affordable place to live," said Bruce Brensdal, Montana Housing Division Administrator. "That’s why we are here to celebrate Alpenglow, a place that will provide local workers and their families an affordable home for many years to come."
The Alpenglow Apartments will provide affordable rent for at least 46 years to residents earning 60 percent or less of Area Median Income. In Whitefish, 60 percent of AMI is $33,420 for a two-person household.
Homeword, a Missoula nonprofit housing developer and the Whitefish Housing Authority partnered to put the estimated $8.7 million deal together, primarily using $6.75 million of federal Housing Credits allocated by Commerce’s Montana Board of Housing and nearly $1.5 million from Commerce’s HOME Investment Partnerships and Housing Trust Fund programs.
The land for Alpenglow was acquired by the City of Whitefish from a seller who provided a discount on the purchase. The land was purchased for these homes at nearly half of market value.
According to the 2016 Whitefish Area Workforce Housing Needs Assessment, more than half of employees who work in Whitefish commute to work. With only 76 affordable rental homes at no vacancy, the construction of Alpenglow will increase the number of affordable rental homes in Whitefish by 50 percent. Alpenglow will be the first affordable multifamily rental property to be constructed in Whitefish since 2004.