The Montana Department of Commerce today announced that Trust Montana, a new affordable housing land trust model in Missoula, will receive $350,000 in federal funding through Commerce’s HOME Investment Partnerships Program.

The Montana Department of Commerce announced Friday that four affordable housing developers representing four Montana communities will share more than $4.5 million of federal funding through the Housing Trust Fund and HOME Investment Partnerships Program. The money will be used to support the construction, rehabilitation and preservation of affordable rental homes in Montana.

Lieutenant Governor Mike Cooney and Commerce Director Tara Rice joined residents and community leaders Friday at a groundbreaking event to celebrate the future of Red Alder Residences, 85 new affordable homes for families and individuals in Helena.

Montana Department of Commerce staff joined local residents and community leaders at a groundbreaking event to celebrate the future of the Alpenglow Apartments, 38 new affordable homes for families and individuals in Whitefish.

Central to its mission of supporting a growing economy, the Montana Department of Commerce serves more than 8,500 Montana families and individuals each year to access affordable homes through rental assistance, homebuyer assistance and affordable rental development.

Three Montana communities will receive grants through the Montana Department of Commerce’s HOME Investment Partnerships Program to assist with the development of affordable housing.

The Montana Department of Commerce recently awarded $840,000 of federal funding to assist with the acquisition and rehabilitation of Roosevelt Villas, two affordable apartment buildings located in Culbertson and Wolf Point.