Missoula Mayor Andrea Davis and local city representatives recently gathered for the groundbreaking ceremony for the Scott Street-Ravara housing project. This marks the start of construction of the Community Land Trust portion of the project, Missoula’s largest development of income-restricted for-sale units.

This project is one of Missoula’s top priorities and has been in the planning stages for the past two years. When complete, the Scott Street-Ravara project is expected to include 89 new home ownership units, 51% of which will be income-qualified for families earning less than 120% of AMI. Additionally, the master plan for the project contains 220-225 apartments and approximately 35,000 square feet of commercial space.

The Scott Street-Ravara housing project also received a low-interest rate loan of $2.8 million dollars from the Montana Board of Investments loan committee to fund public infrastructure at the site, including streets, sidewalks, and utility extensions.

On April 18, join multihousing’s leaders and dealmakers when they explore the most important topics facing the Phoenix and Scottsdale markets today. Register to attend and hear expert insights first-hand, network with the best in the industry, and sit in on discussions you won’t hear anywhere else. Connect Phoenix Multifamily & Single-Family Build-to-Rent on April 18 at the Westin Kierland Resort & Spa.