NeighborWorks Montana

Missoula Housing Impact Fund

The Missoula Housing Impact Fund was created to preserve and expand housing solutions in Missoula County. Investments from local financial institutions, businesses, and individuals are pooled into a fund that can provide the low-interest flexible financing that is needed for affordable homes to be preserved and created.

Eligible projects are those serving renters with incomes up to $70,000 per household and homeowners with incomes up to $150,000 per household. At least 60% of the fund dollars and projects funded will serve households making less than 80% of the area median income.

Fund Investment Opportunity

We are actively seeking donors and investors to meet the initial fund goal of $10 million. Interested in investing? Review our investment circular below and email our Executive Director, Kaia Peterson ([email protected]) to learn more.

  • Minimum investment amount: $50,000
  • Investment term: 5 to 15 years
  • Interest rate: up to 2.00%
  • Repayment: quarterly interest-only payments with principal due at maturity

For every dollar loaned through the fund, we anticipate 8 dollars of total development impact. This means a $10M fund will help advance over $80M in the development of affordable homes, creating and preserving approximately 850 units of housing.

Investors to Date

Local Donor

Fund Progress:

90%%

Projects Funded to Date

Ravara Project

SCOTT STREET DEVELOPMENT

Developer: Ravara Development, LLC
Number of homes: 89
Dollars invested: $3 million
Total project size: $36 million
Project Type: New construction of 4 townhome buildings & 4 condo buildings

The Ravara Development is an 89-home project on city land, made possible by a number of public, private, and nonprofit partners. Some of the units will be sold at market rate while others will be sold as CLT homes for buyers at approximately 105% AMI and held as affordable community assets in perpetuity. NWMT provided $3M in construction and gap financing.

YWCA MISSOULA

Developer: YWCA Missoula
Number of homes: TBD
Dollars invested: $803,250
Total project size: $2.9 million
Project Type: New construction

YWCA of Missoula has the opportunity to purchase a parcel of land located directly next to their Meadowlark building in Missoula, Montana. YWCA, as the developer, is requesting consideration from the Missoula Housing Impact Fund to purchase the parcel for the future creation of a new multi-purpose development. YWCA Missoula believes on this 2.3 acre parcel they will be able to build a new Secret Seconds Store, additional space for the growth of their programs, and affordable housing to support needs in the Missoula housing market.

Have a Project?

Review our loan term sheet and reach out to Larry Phillips, our Real Estate Lending Director, to see if we can assist you with your project.

Larry Phillips
Real Estate Lending Director
406.604.4551
[email protected]

View Loan Term Sheet