Creativity for affordability
Developer and Big Sky Community Housing Trust offer lottery for three affordable rental homes
To deviate from all the recent doom and gloom, three Big Sky families will soon be able to move into spacious affordable housing.
Those families will be selected via a lottery system.
A year and a half of conversation between Triple Creek Properties owners and developers and Big Sky Community Housing Trust has resulted in three affordable long term housing options in Big Sky.
The developers have owned a condominium in Big Sky for years and love the community. They had the land and had been wanting to do something to help local families with it. Their building costs and the price of the land were so high that BSCHT could not find a solution to make it affordable for local families.
“We had lots of great conversations with them, but were struggling to help them with their philanthropic desires,” BSCHT Program Director Laura Seyfang said.
A few months ago, the developer had the idea to lease the properties to BSCHT for a minimum – just to cover their costs. BSCHT would then lease the properties to three families. The agreement specifies a five-year lease by BSCHT. The developer will maintain ownership of the property and the agreement will be revisited after the initial five years.
“We are so thrilled that they are willing to help the community and find a solution that could work for both sides,” Seyfang said. “It just goes to show that creative people that want to do good can find a way.”
When the COVID-19 situation fully hit, the organization considered delaying releasing the information, but decided otherwise. “This is a time when people want and need some good news,” Seyfang said.
BSCHT will be accepting applications from eligible candidates April 1 through April 22.
A lottery drawing will take place from the qualified applicant pool for each residence on April 24th. After verifying background check, landlord reference and credit score, selected tenants will be announced by May 1st.
-At least one adult (age 18+) must have worked in Big Sky for at least 1560 hours in the past 12 months and intend to continue to work locally throughout the lease duration.
-If related, only one adult family member must meet these criteria
-If unrelated roommates, every adult must meet these criteria
-Local employment and income will be verified twice a year
- No more than two unrelated adults (over the age of 18) may occupy the home.
-Household must have at least 3 occupants but is limited to no more than two occupants per room (6 total occupants). -Annual household income must not exceed $125,000. All adult tenant’s income counts towards the household. -Applicants must have a credit score of 600 or above.
-No member of the household can currently own a residence.
-3 bedroom, 2 1/2 bath single family home. 2088 finished square feet, with a 561 square foot unfinished basement. Attached 2 car garage. Large yard.
-Home is unfurnished but includes all new energy-efficient appliances and washer/dryer
-12-month lease, with option to renew annually up to 5 years
-Pet friendly (with additional pet deposit)
-Utilities responsibility of tenant
-Tenant responsible for driveway snow removal and lawn care
-Tenant must obtain renters’ insurance prior to occupying residence
-No subleasing as short-term rental allowed.
- All adult occupants must complete an application process and be included on the lease.
Please reach out to any families you know that may be interested and pass this opportunity along through the community.
email@example.com or call 406-995-3696