In partnership with Gallatin County, the City of Bozeman, HRDC, and United Housing Partners, NeighborWorks Montana is proud to provide financing through the Gallatin Housing Impact Fund to make the Hidden Creek Apartments in Bozeman an affordable housing reality soon.
The Hidden Creek Apartments will be located on a currently vacant lot within the City of Bozeman on Oak Park Drive. They are a combination 4% and 9% Low-Income Housing Tax Credit (LIHTC) project, and NeighborWorks Montana recently provided financing to fill a gap in the 4% project, specifically. Both projects, though legally separate, depend on the other. The 4% project will deliver 162 of the 182 total rental homes, bringing much needed affordability to the Gallatin Valley.
“The Hidden Creek project highlights how the workforce of a region can be supported when partners come together to collaborate on community needs and investments. These homes will provide a place where local workers can afford to live, something everyone deserves,” said Larry Phillips, Real Estate Development Director at NeighborWorks Montana.
These LIHTC-supported rental homes will provide housing for individuals and families making between 30% and 70% of the area median income. For a family of three, this equates to $27,843 to $64,969. Part of a larger development project, the project will not only include the Hidden Creek Apartments but eventually community land trust homes, equity restricted townhomes, and some additional vacant space for a future county-owned build ready lot.
NeighborWorks Montana’s support of this project comes from the Gallatin Housing Impact Fund, a designated pool of investments and donations from local financial institutions, businesses, and individuals that can provide the low-interest flexible financing needed for affordable homes to be preserved and created. The fund has supported a variety of other projects in the Gallatin Valley, including Family Promise, Westlake Heights Apartments, and the Lumberyard Apartments.
The first building, which will include all the 9% homes and a several 4% homes are set to be completed in December 2026.
