Commerce Allocates Over $8 Million of Federal Funding for Affordable Housing
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HELENA, Mont. – The Montana Department of Commerce announced today that six awardees will share over $8 million in funding from the HOME Program, the Housing Trust Fund and the Community Development Block Grant Program. These programs help awardees with projects that meet the housing needs of Montanans, while supporting the state’s economy with good-paying jobs.
“Access to affordable housing is vital to the health and well-being of Montana families, communities, businesses and economy,” said Commerce Director Marta Bertoglio. “These programs are supporting construction and rehabilitation projects that expand housing options that might otherwise not be available to Montanans who need them.”
The CDBG Program, HOME Program and HTF are federal block grants directed and allocated by the U.S. Department of Housing and Urban Development to create affordable homes for households with lower incomes.
The following awardees will receive funding:
Andrew Chanania, principal at Slate Capital Partners in Billings, said, “We’ve syndicated a number of developments across Montana that have depended on HOME, HTF and CDBG funds. These funds are critical gap financing that enables us to help preserve existing and create new, affordable housing opportunities that Montanans can afford. Without these programs, many projects would be unable to move forward.”
With funding from the HOME Investment Partnerships Program, GL Development is finishing construction on a new affordable housing complex for families in Billings. Mitchell Court, with 32 one-, two- and three-bedroom units, was also funded with Low Income Tax Credits and equity provided by Glacier Bank, a city Tax Increment Financing grant, HOME funds from the City of Billings and loans from the Montana Healthcare Foundation and Commerce’s Coal Trust Multifamily Homes Loan Program. Two of the complex’s five buildings will be ready for occupancy by the end of November, with the other three ready in January 2026.
Slate Capital Partners also syndicated a 60-unit senior living complex in Hamilton. With HOME, HTF and CDBG funds, as well as 4% Tax Credits with equity and permanent financing provided by Glacier Bank, and Brownfields Program funding from the Montana Department of Environmental Quality, the late-70s-era complex known as The Manor is undergoing restoration work to make it a comfortable, safe place to call home. The complex will offer affordable housing for tenants who also benefit from project-based rental assistance from the U.S. Department of Housing and Urban Development.
For more information about Commerce’s housing programs, visit commerce.mt.gov.
“Access to affordable housing is vital to the health and well-being of Montana families, communities, businesses and economy,” said Commerce Director Marta Bertoglio. “These programs are supporting construction and rehabilitation projects that expand housing options that might otherwise not be available to Montanans who need them.”
The CDBG Program, HOME Program and HTF are federal block grants directed and allocated by the U.S. Department of Housing and Urban Development to create affordable homes for households with lower incomes.
The following awardees will receive funding:
- CR Builders, LLC will receive $863,000 through the HOME Investment Partnerships Program and $1,150,000 through the Housing Trust Fund for new construction of the Saddlehorn Apartments in Miles City.
- The Crow Tribe will receive $1,500,000 through the HOME Investment Partnerships Program for the rehabilitation of the Western Motel in Hardin to create permanent supportive housing.
- Fergus County will receive $1,815,204 through the Community Development Block Grant in support of the Heart of Montana Farm in the Dell’s project in Lewistown to construct its group home to serve adults with intellectual disabilities.
- Homeword, Inc. will receive $1,671,000 through the Housing Trust Fund for the rehabilitation of the Fraser and Sage Towers in Billings.
- The Town of Twin Bridges will receive an award of $400,000 through the Community Development Block Grant in support of the Twin Bridges Community and School Foundation’s project to construct the Four Rivers fourplex.
- Mineral County will receive up to $750,000 through the Community Development Block Grant in support of the District XI Human Resource Council’s Housing Stabilization Program to rehabilitate single-family residences throughout the County.
Andrew Chanania, principal at Slate Capital Partners in Billings, said, “We’ve syndicated a number of developments across Montana that have depended on HOME, HTF and CDBG funds. These funds are critical gap financing that enables us to help preserve existing and create new, affordable housing opportunities that Montanans can afford. Without these programs, many projects would be unable to move forward.”
With funding from the HOME Investment Partnerships Program, GL Development is finishing construction on a new affordable housing complex for families in Billings. Mitchell Court, with 32 one-, two- and three-bedroom units, was also funded with Low Income Tax Credits and equity provided by Glacier Bank, a city Tax Increment Financing grant, HOME funds from the City of Billings and loans from the Montana Healthcare Foundation and Commerce’s Coal Trust Multifamily Homes Loan Program. Two of the complex’s five buildings will be ready for occupancy by the end of November, with the other three ready in January 2026.
Slate Capital Partners also syndicated a 60-unit senior living complex in Hamilton. With HOME, HTF and CDBG funds, as well as 4% Tax Credits with equity and permanent financing provided by Glacier Bank, and Brownfields Program funding from the Montana Department of Environmental Quality, the late-70s-era complex known as The Manor is undergoing restoration work to make it a comfortable, safe place to call home. The complex will offer affordable housing for tenants who also benefit from project-based rental assistance from the U.S. Department of Housing and Urban Development.
For more information about Commerce’s housing programs, visit commerce.mt.gov.
Tags: Housing and Press Release
