Missoula housing project still a go, but facing economic headwinds
MISSOULA – Plans to develop a residential community on nine acres off Scott Street continue to inch forward, though economic headwinds could push the project off for another year.
Still, members of Ravara LLC said the project remains a go.
“We started this in an uncertain time and we’re continuing to develop in an uncertain time,” said Kiah Hochstetler, a member of the development team. “We’re trying to manage for that.”
The project enjoys heavy public subsidies, including a land donation by the city and a sizable investment by the Missoula Redevelopment Agency.
As planned, a community land trust on three acres will accommodate around 70 townhomes and condominiums. The units will be held as permanently affordable and managed by the North Missoula Community Development Corp.
“This will nearly double the current number of units they have under land trust,” Hochstetler said. “They will do the work to qualify the buyers to…