Senior housing project proposed for Hamilton

by Nathan Boddy

Hamilton’s City Council held several public hearings on Wednesday, July 5th to a small turnout. One of the hearings was arranged to take public comments on the suitability of a proposed ‘qualifying low income rental’ housing development, and how that development would address Hamilton’s housing needs. That multi-unit complex would be called Riverstone Senior Residences.

Housing Solutions LLC of Missoula was present to explain their housing proposal to the City Council. Tyler Currence gave a short powerpoint presentation, and explained the process of using federal tax credit funding to provide low income/fixed rate housing. The proposal for Hamilton, which would be a development at 223 Flower Street (at the southwest corner of Skeels and Flower), would see the construction of 17 one-bedroom units and six two-bedroom units for senior citizens. The building would be constructed with design elements shown to improve access, security, social gathering and independence for residents. Those units would be deed restricted to serve only senior citizens who find themselves with 60% or less of the area’s median income. Rental rates for the units would themselves be fixed to remain affordable.

Currence explained that Housing Solutions seeks the federal tax credit funds through an application to the Montana Board of Housing (MBH), the state agency responsible for distributing the funds. He said that Housing Solutions has been looking to do a project in Hamilton for several years, but the scarcity of land has made it difficult. With the option to purchase the property in hand, they have gone forward with application for the funds. Still, he explained, the process is highly competitive, with generally a one third success rate.

This ‘senior project’ that Housing Solutions seeks to build in Hamilton requires that public input be submitted along with their application to MBH. Tax credit awards will be announced in Late October, and Currence says that they feel confident that they have a good project proposal.

“Using tax credits is the main way affordable housing gets financed in our country,” he said, a sentiment that has been easily proven in the high cost of housing throughout the Bitterroot Valley in recent years.

Several members of the public stood to lend their support to the project, including Jim Morton, longtime Director of the Human Resource Council. Morton spoke highly of the Housing Solutions team, adding that they have done a great job listening to neighbors and build good, quality developments.

If Housing Solutions is successful in receiving the tax credit funds, they will begin a site plan and begin work with the City of Hamilton to prepare their development application for the City. Construction could begin in 2024.