BILLINGS - More young professionals are moving to Billings and starting their careers, but finding housing when just beginning a job is becoming more difficult.
The Billings Association of Realtors is trying to find solutions to make sure the workforce can get into homes.
The idea is to build to meet some of the demand for more affordable homes.
The potential Skyview Ridge project would include 900 smaller homes on nearly 190 acres near Wicks Lane and Governor's Boulevard in the Heights.
The price of a new home at the lower end would be around $225,000.
“If we have housing that people can afford to buy and grow wealth, you'll find that the community as a whole will feel better and work better together,” said Tom Llewellyn, a real estate broker in Billings.
Llewellyn is part of the Midland Empire Land Trust that would build and manage Skyview Ridge.
He's been in real estate since 1969 and in development for six decades.
He says a home he sold for $50,000 is now on the market for $255,000.
“So in 30 years, there was a gain of approximately $200,000 for a family,” Llewellyn said. “That's what makes you feel good.”
“Wealth creation is part of the home, buying, and building process,” said Steve Simonson, Billings Association of Realtors government affairs director.
Simonson has heard similar success stories and wants to see more.
“Especially the entry-level workforce housing,” Simonson said. “We feel that teachers, firefighters, police officers, and those that are protecting and serving our community ought to have an opportunity at home ownership.”
Llewellyn developed the Harvest Granger subdivision in West Billings.
The homes are owned and the land is leased.
Skyview Ridge would be similar, but the land would be leased from the Montana Department of Natural Resources and Conservation.
“And if we use the condominium basis, they pay rent on the land,” Llewellyn said. “We can get the price down considerably. “
“If we can reduce the price of a house by 20 percent, that's a big deal,” Simonson said.
Simonson says others have similar proposals, including Trust Montana, which has built workforce housing in Red Lodge near the airport.
The Billings Association of Realtors received a $500,000 Transforming Neighborhoods Technical Assistance grant from the National Association of Realtors, something Llewellyn hopes kickstarts this idea.
“It helps maintain a family,” Llewellyn said. “It helps keep kids off the streets and it keeps family at the number one part of the city in Billings."
