Bozeman Affordable Housing Ground Breaking TODAY
The new development is called Larkspur Commons and the ground breaking event is happening TODAY (1/25) at 4pm. The public is welcome to attend. Rents are listed here!
Construction began in December 2015 and is anticipated to be complete by the end of the year.
According to the official Press Release:
Ground breaking for Larkspur Commons, a new 136-unit affordable family rental community in Bozeman, will take place Monday, January 25 at 4:00 pm.
Speakers will include Lieutenant Governor Mike Cooney as well as representatives from the developers, the City of Bozeman and the Montana Department of Commerce.
Larkspur Commons will provide new, affordable rental housing containing many energy saving green features for households earning 60% or less of the Area Median Income (AMI).
One, two, and three bedroom units will be available, including 32 three-bedroom townhome units with attached garages. Half of the units will be set aside for households earning 50% or less of the Area Median Income (AMI) and the balance will be set aside for those earning up to 60% of the AMI. Rents will remain affordable for at least 46 years.
The Area Median Income in Bozeman is approximately $48,100 for a one-person household. Sixty percent (60%) of that income is $28,860.
- Affordable housing is defined as no more than 30% of household income committed to housing costs.
- Two bedroom units at Larkspur Commons will range from $677-832 per month for households earning 50-60% of the area median income.
- The average monthly rent for a two bedroom, one bath apartment in Bozeman is $923. This would offer savings to the residents of approximately $90-246 per month.