GREAT FALLS — City commissioners recently received a request for a loan from C. Daniel Bateman to create more affordable housing options in Great Falls.
During their most recent meeting, commissioners granted $1.2 million in Community Development Block Grant funds. These funds are reserved for city housing rehabilitation programs that will use the funds for certain amounts of loans for those looking to upgrade low-income housing.
Daniel‘s project is to renovate and rehabilitate the former Cambridge Court assisted living center at 1109 6th Avenue North; Bateman recently purchased it in hopes to make it a 50-apartment complex.
“A few years ago, I had an employee who is moving here, and he couldn’t find housing anywhere for what his salary was so we had to live in Helena and commute here for several months until he was able to find something which kind of got me thinking OK where we could find affordable housing”
The building has been vacant since 2018 and is now boarded up. The plan is for these apartments to rent for less than $1,000 and appeal to those in low-income and working-class families. Mostly one to two-bedroom units will be available.
In addition to the $1.2 million loan from the city he’s also seeking out $2.5 million from other loans to finish the project.
Some of the major investments estimated:
- installation of a fire alarm system: $90,000
- installation of fire sprinklers: $420,000
- installation of new windows: $230,000
- new water and sewer service lines: $75,000
- elevator testing: $10,000
- electrical service to apartment units: $250,000
Bateman also wants to thank the city officials for not only believing in this project but also working as hard as they can to do what they can in order to find affordable housing and create opportunities for people like him.