MISSOULA — Thursday, March 14, 2024, marked a milestone in Missoula’s housing market as ground was broken on the Scott Street-Ravara development.
This first portion of the development near Scott Street and Shakespeare is managed by the Community Land Trust, offering an affordable solution designed to battle Missoula's current housing crisis.
The first units to be built will be a mix of townhomes and condominiums — a mix of studios to three bedrooms.
The project will ultimately be composed of 89 permanent ownership townhomes and condominiums — 46 of which will be income-restricted — and 220 to 250 apartments, as well as commercial space.
Missoula Mayor Andrea Davis and partners of the project celebrated the event as significant progress towards easing Missoula’s affordable housing crisis.
Funding for the project comes from several sources including community impact funds, the city government, private funds and other sources.
Missoula Redevelopment Agency director Annie Gorski explained how her agency is helping fund the project with the use of tax increment bonds.
The 43 unrestricted townhomes and condominiums will be the first to see construction, with dirt starting to move next week.
"Those provide subsidy for the community land trust units that are actually income-qualified units and we use a subsidy there," explained Kiah Hochstetler with Ravara Development".
The first of the homes are expected to be market-ready by May 2025 with construction on the site as a whole expected to last into 2027.
