Montana Department of Commerce Director Tara Rice Wednesday joined local residents and community leaders in celebrating the grand opening of Lewistown’s Meadows Apartments, 35 newly-renovated affordable homes for seniors and individuals living with a disability.
"It’s important we recognize and celebrate the renovation of Lewistown’s Meadows Apartments, a place that will provide its residents with safe, accessible and affordable homes," Commerce Director Rice said. “These are homes that will remain affordable for at least the next four decades.”
Originally built in 1978, the renovated Meadows Apartments provide affordable rental homes for households earning 60 percent or less of Area Median Income, or about $28,060 for a one-person household. In addition, the property was able to renew its HUD rental assistance contract for 20 years. As a result of the rehabilitation, the Meadows property will remain affordable for at least another 46 years.
The Meadows rehabilitation included accessibility improvements to the property with the installation of a new parking lot, new sidewalks, doors, and flooring. New roofing, siding, insulation and upgraded appliances were also installed to increase energy efficiency.
Thies and Talle Enterprises, Inc. developed the $4.2 million deal with an allocation of federal housing tax credits awarded by the Montana Board of Housing. A Lewistown company, Birdwell Builders, served as the general contractor for the project.
In addition to preserving affordable housing, the renovation also created an estimated 55 local jobs and $2.5 million of earned wages.