Blueline Development Proposes Affordable Apartments in Livingston

Livingston, like many communities across Montana, is grappling with a housing crunch. As prices rise, the availability of affordable rental options for local workers and families continues to shrink. Now, a new proposal offers a beacon of hope: a 32-unit apartment project aimed directly at households earning less than the area's median income.

Missoula-based Blueline Development has introduced plans for Riverstone Ridge, a project slated for north Livingston near N. 11th Street and W. Gallatin Street. This isn't just another apartment complex; it's a targeted effort to provide stable, high-quality housing for the community's workforce.

The Plan for Riverstone Ridge

The proposed development features a mix of units designed to accommodate individuals and families of various sizes:

• 5 one-bedroom units
• 16 two-bedroom units
• 11 three-bedroom units

Crucially, every single one of these 32 units will be income-restricted. Twenty-four units are designated for households earning at or below 50% of the Area Median Income (AMI) for Park County, with the remaining eight units reserved for those at or below 60% of AMI.

How is This Project Funded? The Power of LIHTC

Building affordable housing is a complex financial puzzle. To make the below-market rents viable, Blueline Development is seeking funding through the Low-Income Housing Tax Credit (LIHTC) program.

Blueline has applied for $8.5 million in LIHTC funding, distributed over ten years. This is the cornerstone of the project's financing, supplemented by a traditional mortgage and other grants.

A Community-Focused Development

Blueline Development is also committed to making Riverstone Ridge a high-quality place to live, with plans for long-term affordability and desirable amenities, including:

• 50-year affordability guarantee
• Energy Star certified appliances and fixtures
• In-unit washer and dryer
• Air conditioning and dishwashers
• Energy Star certification
• Photovoltaic (solar) panels to reduce utility costs

Source: "Low-income housing project proposed for north Livingston" by Sean Batura, The Livingston Enterprise