Affordable housing project has backing of mayor, Midtown leaders
Martin Kidston
(Missoula Current) City officials on Monday held fingers crossed that a large-scale affordable housing project planned in Midtown will continue to advance in its quest for low-income housing tax credits from the state.
The Montana Board of Housing has twice given Franklin Crossing universal support for the tax credits, citing the project's number of units and its infill design. The tax credits are one of nearly 17 different funding sources needed to see the project developed.
“It's an important form of financing for this particular project,” said Missoula Mayor Andrea Davis. “This project has received unanimous support from the board. They've seen the incredible number of units. They've seen the amount of thoughtful planning that has gone in by this community. This project is something that's long been in the making by this city.”
As presented, the project will include 192 apartments reserved for those earning between 30% and 70% of the area median income. The units include one, two and three bedrooms collected across three separate, five-story buildings.
The project serves as a partnership between the city, the Missoula Housing Authority and United Housing Partners. The latter was formed in 2022 to develop, rehab and preserve affordable housing across the Rocky Mountain region and Pacific Northwest.
“The principal lives in Missoula, his kids go to school here, he grew up in Montana,” said council member Mike Nugent. “He's done projects in and out of Montana, because that's how affordable projects at this scale do things.”
The tax credits represent just one of several funding threads required to bring Franklin Crossing to fruition. Already, the city has donated land to the project while the Missoula Redevelopment Agency has reserved $9.7 million in tax increment from the Midtown district to aid the development.
Davis said the project could include solar if funding allows. It's infill concept also reduces sprawl and the miles traveled by single-occupancy vehicles.
“Land use has a huge impact on those large-scale concerns we have as community members,” Davis said. “We're not only getting permanently affordable housing, but we're working with a developer who has those goals in mind.”