Big Sky Villas is a 24 unit Rural Development 515 family property with 21 units of Rental Assistance. The property was developed in 1985, and while well maintained, was in need of substantial rehabilitation. Additionally, the booming area real estate market made the preservation of the property and its Rural Development Rental Assistance imperative. HRDC agreed to purchase the property in 2015 and was awarded Housing Tax Credits in January 2016. The RD transfer and loan assumption was completed in December 2017 with construction commencing in January 2017. The project required the relocation of tenants, in pods of 4 units at a time. The final units were completed in August 2017 and exterior improvements will be completed in September 2017. Units were completely gutted and received new flooring, fixtures, bathtubs, toilets, sinks, lighting, air condition/heating units. An additional ADA unit was created. Exterior improvements included a new parking lot, roof, radon mitigation system, landscaping, siding, ADA compliance additions, and a new playground.
Montana Board of Housing Low Income Housing Tax Credit program, HOME Investment Partnerships (HOME) program, Big Sky Western Bank, Glacier Bank, Rural Development