Page 31 - Flathead Beacon // 5.27.2015

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BUSINESS MONTHLY
MAY 27, 2015 | 31
DEVELOPMENT
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review, a 96-unit apartment complex.” Jentz said developer would like to have the apartments completed by June 2016, and Davis also said the 25 houses are on schedule to be fin-
ished by Christmas.
There aren’t many active hous-
ing projects that seek to provide rental space, Jentz said, for the valley residents who may not be able to afford buying a house or those who just prefer to rent.
“We have such a shortage of rental space,” he said. “Our rental market is the single-family house that someone is either letting it deteriorate or it’s for sale and is being rented until it sells. We haven’t seen a lot of projects like this come through; this will be good.”
One of the reasons Jentz suspects there has been a lack of such housing projects is the unavailability of open space or lots in the city limits. Flathead County has a “plethora” of lots avail- able, he said, but the city subdivisions are filling up.
Davis said the original plan for the first phase of development in Bloom- stone, back in 2007, was for 185 units – 64 apartments and 121 houses. Now, how- ever, the market is driving what Bloom- stone will build, and the tight rental market points to apartments, he said.
The next phase will likely include 60 homes in a higher price range, he said, from $230,000 to $260,000.
Construction of the Bloomstone subdivision near Kidsports complex on the north end of Kalispell. GREG LINDSTROM | FLATHEAD BEACON
Bloomstone has the capability, with its zoning and permitting, to build hous- ing on smaller lots than usual, at about 4,500 square feet. There are also possibil- ities for other uses, such as assisted living.
But the goal right now as Davis sees it is to build multi-family housing and single-family housing with close prox- imity to Glacier High School, the shop- ping at the retail area in north Ka- lispell, Flathead Valley Community
College, and near the Kalispell Regional medical campus.
“The rental market here is going to be outstanding with the majority of Ka- lispell’s employee core within a mile of our project,” he said.
The development will also be near the U.S. 93 bypass, with access to the trails that will be built along with the roadway, and will have integrated paths and sidewalks connecting the housing to
Kidsports as well.
“It’s been a long time coming and
we’re definitely looking forward to the future. It’s tough to say what the mar- ket’s going to do and in a development like this the market’s going to drive what we can offer,” Davis said. “Re- ally, it’s exciting to be moving forward again ... We’re excited to finally have houses going up.”
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