MISSOULA — Nearly 300 homes are coming to the area near Missoula's England Boulevard as part of the West End Homes Subdivision.
Developers want to support locals by selling for less than market value and prioritizing first-time homebuyers.
"My team and I are from Missoula, and during COVID, we were sitting around watching the price of our homes skyrocket to the point where none of us could afford them," West End Farms co-managing partner Justin Metcalf said.
Currently, four homes are being constructed with one near completion. Developers plan to start constructing one new home roughly every week.
"We've also created a wait list, so we'll be selling off that if we have more demand than we have supply," Metcalf said.
A future 28-acre public park similar in size to McCormick Park is slated to have trails, play areas, and a farm.
Homes are fixed price starting at $350,000 and buyers must occupy the homes for two years minimum.
"The home at the end of the block here is under contract right now for $450,000, but it appraised in December for $495,000 for the bank. That owner gets some equity, we get profit, and everybody wins," Metcalf noted.
By selling for less than market value, the Missoula-based developers want to keep locals from being priced out.
"I've spent my career in workforce housing and affordable housing, so there's always the business side and then there's the social side, and we're an impact company, so people, planet, profit, and this is the nexus of all three for us," Metcalf explained.
The neighborhood, comprised of single-family and town homes, should be finished in the next four or five years.
