Montana

Completed Projects

The Cornerstone; (21 units, multi-family housing complex)
2007 Clark Street
Miles City, MT 59301

Makoshika Estates; (18 units, senior age 55+ housing complex)
620 Grant Avenue
Glendive, MT 59330

Projects in Process

Renovations are Underway in Kalispell at Two Complexes

The Glacier Manor and Treasure State Apartment complexes in Kalispell are receiving substantial makeovers which will preserve them in the affordable housing inventory fleet for years to come.  The Monfric Group, Northwest Montana United Way, and Treadstone Housing, LLC have joined forces to manage the redevelopment and financing of these two projects.  Both projects have a combined total of 99 units which have served  the Flathead area senior living community in excess of 25 years.  Financing for the renovations came in the form of 4% Low Income Housing Tax Credits and tax-exempt bonds. The rehabilitation work is set to be completed at the end of 2009.

Eagle Manor II Project in Helena Is Third Phase of Extensive Rehab

The Eagle Manor II project is actually the third and final phase of a senior housing complex in Helena, Montana that is known most commonly as “Eagles Manor”.  The Rocky Mountain Development Council, Inc. has been involved in the development of each phase.  This senior housing campus consists of 3 components (or developments) that have been improved over the past five years. The first of this progression (Phase 1) was the acquisition/rehab of Penkay Eagles Manor, a 66-unit facility designed for elderly and disabled. Phase 2 was the new construction of Eagle Manor III, a 3-story and 30-unit building completed in November of 2008. And finally, this latest project will complete Phase 3 of this campus development.

In terms of financing, all of the 3 phases involved the use of low-income housing tax credits. This particular project involves the acquisition and rehabilitation of a pre-existing senior apartment building. The building is to be renovated, converting its current inventory of strictly efficiency units into a mix that is primarily one-bedroom units. Upon construction completion, which is currently slated for November of 2009, this complex will consist of 44 rentable units.

Mountain View Apartments III in Hamilton Wrapping Up Construction

The community of Hamilton, Montana is experiencing tremendous population and economic growth and the demand for affordable housing is high.  Summit Housing Group, Inc. has recognized and responded to the need for housing by previously developing Mountain View Apartments I and II.  Construction is now almost complete on their latest addition to the affordable housing inventory in Hamilton, known as Mountain View Apartments III.   The developer plans to receive the certificate of occupancy and begin leasing up the newly constructed 46-unit multifamily affordable housing complex in August of 2009.  An open house for prospective tenants is planned for August 7th from 3:00 - 7:00 p.m.

View for information on the Montana Tax Credit Program

North Dakota

Completed Projects

Garden Hills Senior Living; (37 units, senior age 55+ housing complex)
1321 Fifth Street NE
Jamestown, North Dakota 58401

Heritage Village; (6 units, multi-family housing complex)
57 Greenfield Road
Milnor, North Dakota 58060

Homestead Commons; (6 units, multi-family housing complex)
302 Third Street NW
Gwinner, North Dakota 58040

Library Square II; (45 units, senior age 55+ housing complex)
110 First Street NW
Mandan, North Dakota 58554

Northwood Village; (16 units, multi-family housing complex)
7 North Dohney
Northwood, North Dakota 58267

Park Century Apartments; (60 units, multi-family housing complex)
2800 Gateway Avenue
Bismarck, North Dakota 58503

Serenity Apartments; (18 units, multi-family housing complex)
212 8th Avenue West
West Fargo, North Dakota 58078

Projects in Process

Library Square II Complex Now Leasing

MPEG was on hand to offer congratulations to the Library Square II project in Mandan, North Dakota at its Open House in February 2009. Lease up is now well underway and tenant applications are being taken. This new apartment complex is dedicated exclusively to residents aged 55 and over. MPEG is proud to be a part a project that brings such a valuable asset to the Mandan community.

The 45-unit property offers tenants an array of amenities including a comfortable floor plan with modern appliances, off-street parking, community room, central laundry, and elevator. The property is located in downtown Mandan in close proximity to public transportation, shopping, medical services, and churches.

The Library Square II complex was sponsored by MetroPlains, LLC and Community Works of North Dakota with financing provided in large part by federal tax credits that are made available to developers of low-income housing projects. The facility is therefore subject to rent restrictions to ensure affordable rent levels. Tenants must qualify to reside in the facility based upon annual income levels at or below 60% of the Area Median Income (AMI) for Morton County. This tax credit program is managed by the North Dakota Housing Finance Agency which is responsible for the development of hundreds of high-quality, affordable apartments across the state.

View for information on the North Dakota Tax Credit Program

Wyoming

Completed Projects

Legacy Senior Residences; (54 units, senior age 55+ housing complex)
1005 North Elma
Casper, WY 82601

Prairie Sage Apartments; (64 units, multi-family housing complex)
2035 South Beverly Street
Casper, WY 82609

Rock Butte Apartments; (70 units, multi-family housing complex)
1430 East Teton Boulevard
Green River, WY 82935

Projects in Process

Grand Openings

Two projects in Casper wrapped up construction in the early summer of 2009.  The Legacy Senior Residences, a 54-unit complex serving the senior age 55+ residents, celebrated their Grand Opening at the end of June.  The Prairie Sage Apartments, a 3-building complex with a total of 64 units serving as multi-family housing, wrapped up construction in early July and will hold a Grand Opening on August 14th from 3:30 - 6:00 p.m.  The demand for affordable housing in the Casper community has been so great the Legacy project is fully leased up and the Prairie Sage project is over half filled.  MPEG is proud to partner with the respective developers, Cornerstone Associates, LLC and Summit Management Group, Inc in bringing affordable housing to the communities in need.  The quality of these two projects is a direct reflection of the quality of the developers and it was indeed a pleasure to see these developments come to fruition.

Cornerstone Apartments Now Being Constructed

Construction of a new 36-unit family development in Casper kicked off in June 2009.  The project, called the Cornerstone Apartments, is yet another quality project by the Cornerstone Associates, LLC.  This same group created the Legacy Senior Residences which is a beautiful senior complex recently completed in Casper.  The project was proposed to address the gap in the community's affordable rental housing market.  It is being constructed in an area that is close to many services including retail shopping, food services, medical facilities, schools, and transportation making it an excellent location for families.  Stayed tuned as MPEG will continue to update you as to the progress of this quality affordable housing complex.
 

View for information on the Wyoming Tax Credit Program

Colorado

Projects in Process

Ashwood Apartments Now Leasing

MPEG was on hand at the end of June for the Grand Opening of the Ashwood Apartments in Pueblo, Colorado and lease up has begun.  The project was developed by the Housing Authority of the City of Pueblo and is dedicated to senior citizens (age 55+) that are income-qualified. It is an attractive and modern design, configured in five separate buildings with five units per building. This configuration allows a one-level garden style appearance that seems to be a welcome departure from the more traditional LIHTC designs. It is helpful to note that all of the 25 rentable units are of an identical design and size, that being a one-bedroom apartment with 650 square feet of living space. Other amenities include a common area laundry, carports for covered parking, and beautiful low-maintenance landscaping.  MPEG was proud to be a partner in this quality project by being able to provide the equity financing through the purchase of the Low Income Housing Tax Credits.  The Ashwood Apartments is sure to benefit the Pueblo community for years to come.
 

View for information on the Colorado Tax Credit Program