CPP Announces Acquisition of Affordable Housing Communities in Great Falls, Montana
GREAT FALLS, Mont., Aug. 07, 2023 (GLOBE NEWSWIRE) -- CPP (Community Preservation Partners), a mission-driven affordable housing preservation developer has announced the acquisition and planned renovation of two developments in Great Falls: Sunshine Village and Broadview Manor East & West (MT2 Community Partners, LP).
- GREAT FALLS, Mont., Aug. 07, 2023 (GLOBE NEWSWIRE) -- CPP (Community Preservation Partners), a mission-driven affordable housing preservation developer has announced the acquisition and planned renovation of two developments in Great Falls: Sunshine Village and Broadview Manor East & West (MT2 Community Partners, LP).
- This is the second project closing in Montana for CPP and Hampstead together, totaling three communities in the area.
- “New affordable housing developments in the Great Falls area have significant waitlists, so the preservation and modernization of the existing affordable housing stock is important to the residents of this community,” said Karen Buckland, Vice President at CPP.
- Partners on the project include Montana Board of Housing (who awarded tax exempt bonds and 4% low-income housing tax credits), WNC is the equity partner, and Glacier Bank provided the debt.