City: Three housing projects will address a range of needs
Martin Kidston
(Missoula Current) City officials on Monday praised the range of housing types coming to the market on city-owned land in partnership with several developers, and pushed back on what they deemed to be misconceptions around one project planned for Midtown.
The city owns a number of properties and currently has developers lined up for three of them, including the Scott Street project that's currently being developed by Ravara.
Plans for Franklin Crossing on Johnson Street are also moving forward and will deliver roughly 190 units of deed-restricted housing. Plans for Midtown Commons will help subsidize the Franklin project by injecting new tax increment into the Midtown district.
City leaders said each project aims to address Missoula's range of housing needs.
“Midtown Commons will be able to support additional increment in the district to achieve one of the largest affordable housing projects in Missoula's history (at Franklin Crossing),” said Mayor Andrea Davis. “This is 193 deed-restricted affordable homes financed through the housing tax credit program. It's a very competitive process.”
Davis and several others, including the Missoula Economic Partnership, pitched the Franklin Crossing project to the Montana Board of Housing on Monday. The project is seeking 9% Low Income Housing Tax Credits from the state.
The Missoula Redevelopment Agency has already reserved $9.7 million in tax increment to help sweeten Franklin's application process. And when Midtown Commmons comes online, the new taxes it generates will help support the cost of subsidizing Franklin Crossing.
The Midtown project will also include homes below the median price, said City Council member Mike Nugent.
“That developer is aiming to create a lot of for-purchase opportunities below the median price point,” said Nugent. “That's a niche that we need.”
Some have criticized plans for Midtown Commons for not including what they perceive as affordable housing. Suzette Dussault said the numbers don't pan out when compared to area wages.
She suggested the city remove the cost of land from the project and go back to the drawing board.
“I'm stunned by the city in allocating our few precious resources for market rate, when we have a critical need for our workers,” said Dussault. “We do not need people from Arizona. We don't need people from God-knows-where to tell us how to be as a community. We know how to do that.”
Nugent said the city is working to create two types of housing, one for those who need income-restricted homes and those who make too much to qualify for such homes but still can't afford Missoula's median prices. The city's range of housing projects look to address more than one need, he said.
“We cannot forget about those folks who are struggling to afford houses in Missoula but aren't going to qualify for subsidized housing,” Nugent said. “That term 'missing middle' is the type of housing we're looking at in this Midtown project. It's really aimed at the group that is making too much to qualify for subsidies but still can't afford to live in Missoula. That's a real group.”
Along with Franklin Crossing, the Scott Street development also looks to deliver roughly 70 units of income-restricted housing through a community land trust. The homes are available to buyers earning up to 120% of the area median income.
Davis said Front Step CLT has opened the application process for qualified buyers, which will remain open through May 22.
“That is available through the workforce housing program at the Missoula Redevelopment Agency to the tune of $3 million to make that possible,” Davis said of the Scott Street project's subsidies. “That's a substantial investment in those community land trust homes.”