BOZEMAN- The HRDC has stepped in and saved a 41-unit affordable housing complex in downtown Bozeman.
Bob Rasmus was the previous owner of the Boulevard Apartments and sold it to the HRDC.
“Certainly there are not a lot of other subsidize options available,” Heather Grenier the Chief Executive Officer of the HRDC said, “most subsidized apartments have about an 18-month waitlist and so it would’ve taken a significant amount of time to relocate those folks.”
Rasmus hoped that it would continue to serve its current purpose as affordable housing.
Grenier explained that due to the waitlist time chances were high some individuals could've ended up on the streets. Grenier also said that most of the people who call The Boulevard Apartments home have lived there quite some time, some as long as 17 years.
The HRDC also has been involved in the affordable housing market for many years. They own affordable properties not only in Bozeman but in other parts of the greater Bozeman metropolitan area.
This new building purchase for them was built in 1914 and had its last major renovation in the early 1990s. The HRDC says they plan to make updates to the building.
“Certainly it’s an older building and so it needs some care,” Grenier said, “we’ve done a capital needs assessment and the improvements anticipated are estimated at $1.7 million.”
Grenier went onto say that the HRDC is testing other forms of affordable housing throughout the area by way of tiny homes and townhouses.