Governor Steve Bullock today joined community members and Montana Department of Commerce Director Pam Haxby-Cote at the grand opening of 136 affordable homes, newly-built for Bozeman workers and their families.
“To build on Montana’s strong and growing economy, we must house a growing workforce,” Governor Bullock said. “That is why it is so important we recognize and celebrate Larkspur Commons, a place that will provide a safe and affordable home for local hard-working Montanans for many years to come.”
Larkspur Commons serves Bozeman residents who earn less than 60 percent of the Area Median Income (AMI) with half of those units set aside for those earning below 50 percent AMI. An annual salary for those earning 60 percent AMI is about $29,820 for a one-person household. These rental homes will remain affordable for at least 46 years.
Located close to schools, shopping, health care, transit and other services, Larkspur Commons is an ideal location for people to live and benefit from services within the Bozeman community.
GMD Development, a Washington-based affordable housing developer and Homeword, a Missoula-based affordable housing developer, put the $21.1 million deal together for the project with a combination of more than $9.6 million in funding from Montana Department of Commerce Housing Credits program. Other funding sources for the property include WNC & Associates, Inc., Citibank, and the City of Bozeman.
For more information, visit housing.mt.gov or call (406) 841-2840.