Trust Montana Receives $350,000 grant for Affordable Housing 1075zoofm.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from 1075zoofm.com Daily Mail and Mail on Sunday newspapers.
With the cost of real estate skyrocketing beyond many families’ ability to afford, the Montana Department of Commerce announced this week that Trust Montana, a new affordable housing land trust model in Missoula, will receive $350,000 in federal funding through the Montana Department of Commerce’s HOME Investment Partnerships Program.
Tampa-based Southport Financial Services expects to buy the unused parking structure at the edge of Springfield at the end of May for site redevelopment into Parkview Commons.
Southport Financial Senior Vice President Michael Molinari said March 11 that construction of the 122-unit affordable rental community should start by the end of 2021 for completion in a year.
The almost 1.5-acre site is at 901 N. Main St., bordered by Main, State, Ocean and Orange streets, in the Springfield area north of Downtown Jacksonville.
He said Southport will “bring much needed affordable housing to the historically underserved Springfield neighborhood.”
Molinari said the almost $30 million development will have ground-floor parking topped by a four-story building that will have a leasing center, library, gym, community space and more amenities.
Policymakers have taken several actions in recent months to mitigate housing-related hardship. The Trump Administration and Congress provided $25 billion for rental assistance in December’s COVID-19 relief package, for example, and the Biden Administration recently extended a Centers for Disease Control and Prevention order prohibiting most evictions through the end of March. This assistance, while substantial, will likely be enough to help only a fraction of the 13 million renters who have fallen behind on their rent. Analysts’ estimates of the amount of back rent these renters owe vary from $1,700 to $6,000 per household, yielding an average estimate of the total back rent owed of nearly $27 billion.
Landmark Asset Services, Inc. was awarded $615,000 from the HOME Investment Partnerships Program, which is from the Virginia Department of Housing and Community Development, to help in the conversion of the old Southside High School and Blairs Middle School into affordable rental housing for local working families.
he 55-unit Southside Lofts project was initially announced in June of 2019 and is expected to be completed sometime in 2022.Â
Southside Lofts is being made possible by the partnership of Pittsylvania County and Landmark. Pittsylvania County donated the property that the school sits on and surrounding land for parking.Â
The complex will include one, two and three bedroom loft-style units and site amenities such as a multipurpose room with televisions, tables and other furnishings including a business center with computers and printer, an exercise room, outdoor recreation areas, and much more. Each unit will have high speed internet access and will include energy ef