Missoula’s Mayor Andrea Davis and local city representatives recently gathered for the groundbreaking ceremony of the Scott Street-Ravara housing project. This marks the beginning of construction for Missoula’s largest development of income-restricted, owner-occupied units.
The project has been a top priority in Missoula for two years and is now coming to fruition. Upon completion, it will offer 89 new homes with 51% designated as affordable housing for families earning less than 120% of AMI. The master plan also includes plans for approximately 220-225 apartments and around 35,000 square feet of commercial space.
To support this important development, the Montana Board of Investments loan committee approved a low-interest rate loan worth $2.8 million dollars to fund public infrastructure such as streets, sidewalks, and utilities at the site.
This groundbreaking event signifies an exciting step forward in providing much-needed affordable housing options in Missoula while also promoting economic growth through commercial space opportunities within the community.
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