Helena affordable housing development awarded $9.2M in tax credits

Posted at 2:52 PM, Nov 20, 2018
and last updated 2018-11-20 19:17:28-05

HELENA- The Rocky Mountain Development Council announced Tuesday that the Montana board of housing has approved more than $9 million dollars worth of tax credits for an affordable housing development.

The Red Alder Residences development is on Helena’s west side on the corner of Henderson and Brady St. The development includes 85 units aimed at both families and seniors.

It includes one, two and three bedroom apartment and aims to help people who earn too much for government assistance. But not enough for housing.

Red Alder Residences has an estimated cost of 18-million dollars. RMDC and GL development have secured about 86-percent of the cost of the project.

RMDC says the last time Helena was award tax credits for affordable housing aimed at families was in 2006.

For more information on the Red Alder Residences visit RMDC’s website.