News Archives - Summit Housing Group, Missoula, Montana https://summithousinggroup.com/category/news/ Affordable multi-family, independent senior living, tax credit acquisition and rehabilitation, and market- rate apartment projects. Thu, 12 Jun 2025 21:42:35 +0000 en-US hourly 1 https://wordpress.org/?v=6.9 https://summithousinggroup.com/wp-content/uploads/2024/01/favicon-shg.png News Archives - Summit Housing Group, Missoula, Montana https://summithousinggroup.com/category/news/ 32 32 An Exciting Addition to the Wyoming Portfolio – Sage Ridge Apartments in Gillette https://summithousinggroup.com/an-exciting-addition-to-the-wyoming-portfolio-sage-ridge-apartments-in-gillette/ Mon, 09 Jun 2025 01:54:34 +0000 https://summithousinggroup.com/?p=8711   We’re excited to introduce Sage Ridge Apartments in Gillette, WY, a welcoming community in Campbell County. Offering two, and three-bedroom homes, Sage Ridge features spacious patios or balconies, fully equipped kitchens with refrigerators, dishwashers, and microwaves, and pet-friendly accommodations designed for comfort. Residents can enjoy family moments at the playground or gather for a barbecue at the picnic pavilion....

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We’re excited to introduce Sage Ridge Apartments in Gillette, WY, a welcoming community in Campbell County. Offering two, and three-bedroom homes, Sage Ridge features spacious patios or balconies, fully equipped kitchens with refrigerators, dishwashers, and microwaves, and pet-friendly accommodations designed for comfort.

Residents can enjoy family moments at the playground or gather for a barbecue at the picnic pavilion. The resident clubhouse provides a cozy space for relaxation and community engagement. Sage Ridge is dedicated to providing accessible, modern living with thoughtful amenities.

 

 

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]]> Our new 300-unit Santa Fe Workforce Housing Development Project is in its final negotiations https://summithousinggroup.com/our-new-300-unit-santa-fe-workforce-housing-development-project-is-in-its-final-negotiations/ Sun, 09 Feb 2025 08:32:35 +0000 https://summithousinggroup.com/?p=8574   Exciting News! We are thrilled to announce that our new 300-unit Santa Fe Workforce Housing Development Project is in its final negotiations! This initiative is a significant step towards providing much-needed affordable housing in the Santa Fe area. Our team has been working tirelessly to bring this project to life, and we are excited about the positive impact it...

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Exciting News!

We are thrilled to announce that our new 300-unit Santa Fe Workforce Housing Development Project is in its final negotiations! This initiative is a significant step towards providing much-needed affordable housing in the Santa Fe area.

Our team has been working tirelessly to bring this project to life, and we are excited about the positive impact it will have on the community. Affordable housing is crucial for the well-being and stability of our workforce, and we are committed to making a difference.

Stay tuned for more updates as we move closer to breaking ground. Together, we can build a brighter future for Santa Fe!

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]]> The Summit at Rexburg Progress Update https://summithousinggroup.com/the-summit-at-rexburg-progress-update/ Fri, 24 Jan 2025 16:59:23 +0000 https://summithousinggroup.com/?p=8566 Despite the challenges of January’s winter weather, construction at The Summit at Rexburg is moving forward! The ground heater kept the concrete pour on schedule. We’re gearing up for wall framing soon, which will truly bring the structure to life. With water and sewer lines now in place, we’re ready to proceed with the groundwork to support the framing. Sitework...

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Despite the challenges of January’s winter weather, construction at The Summit at Rexburg is moving forward!

 

The ground heater kept the concrete pour on schedule. We’re gearing up for wall framing soon, which will truly bring the structure to life. With water and sewer lines now in place, we’re ready to proceed with the groundwork to support the framing. Sitework is currently 35% complete.

 

We’re excited to see this much-needed affordable housing development take shape in Rexburg!

 

This update provides a concise and informative overview of the construction progress, highlighting the resilience of the project despite the winter weather challenges.

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]]> Summit announces the upcoming development of the Summit at Granby Apartments in Granby, Colorado https://summithousinggroup.com/summit-announces-development-summit-granby-apartments-granby-colorado/ Mon, 20 Jan 2025 23:11:20 +0000 https://summithousinggroup.com/?p=8545 Summit announces the upcoming development of the Summit at Granby Apartments in Granby, Colorado We are thrilled to announce the upcoming development of the Summit at Granby Apartments in Granby, Colorado, the first competitive modular affordable housing project in the state of Colorado! This innovative project, developed by the Summit Housing Group, is blazing the trail for a significant change to the future of low-income...

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Summit announces the upcoming development of the Summit at Granby Apartments in Granby, Colorado

We are thrilled to announce the upcoming development of the Summit at Granby Apartments in Granby, Colorado, the first competitive modular affordable housing project in the state of Colorado!

This innovative project, developed by the Summit Housing Group, is blazing the trail for a significant change to the future of low-income housing. With 67 units, including one-, two-, and three-bedroom apartments, this development will provide affordable housing for residents with incomes between 30% and 80% of the area median income.

Proof of Concept for Modular Building of Affordable Housing
This advance in modular building design and execution is possible through the deep experience provided by our modular partner, Fading West whose factory is located in Buena Vista, Colorado. The project will break ground in May 2025 and is expected to be completed by the end of Q1 2026.

We are proud to support this initiative and look forward to seeing the positive impact it will have on our community.

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]]> 2023 Award for Development that Best Preserves Family Housing https://summithousinggroup.com/2023-award-for-development-that-best-preserves-family-housing/ https://summithousinggroup.com/2023-award-for-development-that-best-preserves-family-housing/#comments Thu, 26 Oct 2023 18:44:24 +0000 https://webredox.net/demo/wp/bauen/light/multi/demo1/?p=152 2023 Award for Development that Best Preserves Family Housing Summit Housing Group, Inc., is the NOVOGRADAC 2023 winner of the Development that Best Preserves Family Housing.  

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2023 Award for Development that Best Preserves Family Housing

Summit Housing Group, Inc., is the NOVOGRADAC 2023 winner of the Development that Best Preserves Family Housing.

 

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]]> https://summithousinggroup.com/2023-award-for-development-that-best-preserves-family-housing/feed/ 1 Timber Ridge Apartments Ribbon Cutting https://summithousinggroup.com/timber-ridge-apartments-ribbon-cutting/ https://summithousinggroup.com/timber-ridge-apartments-ribbon-cutting/#comments Tue, 13 Jun 2023 18:45:20 +0000 https://webredox.net/demo/wp/bauen/light/multi/demo1/?p=153 TIMBER RIDGE APARTMENTS RIBBON CUTTING BROOMFIELD, Colo., April 26, 2022 The Summit Family of Companies celebrated the grand opening and ribbon cutting ceremony for Academy Place Apartments today at 11:00 am at 7105 W. 120th Ave., Broomfield, Colo. This beautiful, newly constructed 50-unit apartment community is the first affordable low-income family apartment development to be built in Broomfield in over...

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TIMBER RIDGE APARTMENTS RIBBON CUTTING

BROOMFIELD, Colo., April 26, 2022

The Summit Family of Companies celebrated the grand opening and ribbon cutting ceremony for Academy Place Apartments today at 11:00 am at 7105 W. 120th Ave., Broomfield, Colo. This beautiful, newly constructed 50-unit apartment community is the first affordable low-income family apartment development to be built in Broomfield in over 22 years. The significance of Academy Place is that it moves the city closer to reducing the 1,286 affordable rental unit gap for renters earning less than $20,000 per year.

The ceremony was held at the entrance to the building, and community tours followed the ceremony. Remarks were given by Scott Long, Owner and Chairman of The Summit Family of Companies; Paul Capps, President of The Summit Family of Companies; London Lomax, Vice President, Chief Strategic Advisor Health Benefits, Aetna, a CVS Company; Guyleen Castriotta, Mayor of Broomfield; Heidi Henkel, Broomfield Councilmember for Ward 5 and Head of the Broomfield Afghan Refugee Task Force; and Steve Johnson, CHFA. Food was also provided, courtesy of Taco Bron.

 

Academy Place is in an excellent location in the heart of Broomfield and is within a mile of almost all essential services, job opportunities, and schools, making it an ideal home for families. The total development cost for Academy Place was $17.3 million. Hunt Capital Partners provided the $11.4 million in 9% federal low-income housing tax credit equity financing through its multi-investor fund, Hunt Capital Partners Tax Credit Fund 37. The fund includes eight investors, including Aetna, a CVS Health company, who is also working closely with Broomfield FISH to offer several health and wellness resources to residents.

“We know that when people have access to housing, they’re able to improve their overall health and well-being,” said London Lomax, Vice President and Chief Strategic Advisor at Aetna, a CVS Health company. “That’s why we’re committed to addressing housing insecurities at the local level through investments like Academy Place and providing people with resources that can help them achieve better health and create positive change in their lives.”

 

“Hunt Capital Partners recognizes the need for affordable living for the families of Broomfield, Colorado,” said Amy Dickerson, Managing Director, Investor Relations at Hunt Capital Partners. “We are pleased to partner with The Summit Companies in the creation of 50 new energy efficient affordable homes with additional amenities that make healthy living accessible. When families spend less on housing-related expenses, they then have more freedom for everyday essentials such as food, clothing, activities, and education. In times like these, where costs are rising rapidly, affordable housing is even more essential.”

In addition to the LIHTCs, other funding sources included a $12.95 million construction loan from BBVA USA; a $5.1 million permanent loan from the Rocky Mountain Community Reinvestment Corp.; a Colorado Department of Housing Loan in the amount of $500,000; and waivers provided by the City of Broomfield for $337,084. The Broomfield Housing Authority also provided a real estate tax- exemption.

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]]> https://summithousinggroup.com/timber-ridge-apartments-ribbon-cutting/feed/ 1 Academy Place Apartments Ribbon Cutting https://summithousinggroup.com/academy-place-apartments-ribbon-cutting/ Tue, 26 Apr 2022 16:43:42 +0000 https://summithousinggroup.com/redesign/?p=8219 TIMBER RIDGE APARTMENTS RIBBON CUTTING BROOMFIELD, Colo., April 26, 2022 The Summit Family of Companies celebrated the grand opening and ribbon cutting ceremony for Academy Place Apartments today at 11:00 am at 7105 W. 120th Ave., Broomfield, Colo. This beautiful, newly constructed 50-unit apartment community is the first affordable low-income family apartment development to be built in Broomfield in over...

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TIMBER RIDGE APARTMENTS RIBBON CUTTING

BROOMFIELD, Colo., April 26, 2022

The Summit Family of Companies celebrated the grand opening and ribbon cutting ceremony for Academy Place Apartments today at 11:00 am at 7105 W. 120th Ave., Broomfield, Colo. This beautiful, newly constructed 50-unit apartment community is the first affordable low-income family apartment development to be built in Broomfield in over 22 years. The significance of Academy Place is that it moves the city closer to reducing the 1,286 affordable rental unit gap for renters earning less than $20,000 per year.

The ceremony was held at the entrance to the building, and community tours followed the ceremony. Remarks were given by Scott Long, Owner and Chairman of The Summit Family of Companies; Paul Capps, President of The Summit Family of Companies; London Lomax, Vice President, Chief Strategic Advisor Health Benefits, Aetna, a CVS Company; Guyleen Castriotta, Mayor of Broomfield; Heidi Henkel, Broomfield Councilmember for Ward 5 and Head of the Broomfield Afghan Refugee Task Force; and Steve Johnson, CHFA. Food was also provided, courtesy of Taco Bron.

Academy Place is in an excellent location in the heart of Broomfield and is within a mile of almost all essential services, job opportunities, and schools, making it an ideal home for families. The total development cost for Academy Place was $17.3 million. Hunt Capital Partners provided the $11.4 million in 9% federal low-income housing tax credit equity financing through its multi-investor fund, Hunt Capital Partners Tax Credit Fund 37. The fund includes eight investors, including Aetna, a CVS Health company, who is also working closely with Broomfield FISH to offer several health and wellness resources to residents.

“We know that when people have access to housing, they’re able to improve their overall health and well-being,” said London Lomax, Vice President and Chief Strategic Advisor at Aetna, a CVS Health company. “That’s why we’re committed to addressing housing insecurities at the local level through investments like Academy Place and providing people with resources that can help them achieve better health and create positive change in their lives.”

 

“Hunt Capital Partners recognizes the need for affordable living for the families of Broomfield, Colorado,” said Amy Dickerson, Managing Director, Investor Relations at Hunt Capital Partners. “We are pleased to partner with The Summit Companies in the creation of 50 new energy efficient affordable homes with additional amenities that make healthy living accessible. When families spend less on housing-related expenses, they then have more freedom for everyday essentials such as food, clothing, activities, and education. In times like these, where costs are rising rapidly, affordable housing is even more essential.”

In addition to the LIHTCs, other funding sources included a $12.95 million construction loan from BBVA USA; a $5.1 million permanent loan from the Rocky Mountain Community Reinvestment Corp.; a Colorado Department of Housing Loan in the amount of $500,000; and waivers provided by the City of Broomfield for $337,084. The Broomfield Housing Authority also provided a real estate tax- exemption.

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