Construction is nearly complete on the new Century Cottages in northwest Bismarck.
A grand opening is expected to be held later next month on the $8.5 million project, which is located at 2724 Hawken Street.
Lewis & Clark Development Group and Mountain Plains Equity Group of Billings, Montana are spearheading the project.
Upon completion, 35 new one- and two-bedroom apartments will be available to seniors and those who need assistance to live independently.
“Century Cottages will help meet the Bismarck-Mandan area’s ongoing affordable housing needs,” says Brent Ekstrom, LCD Group executive director.
The project joins a growing list of affordable housing projects facilitated and developed by LCD Group. For over 23 years, LCD Group has partnered on projects totaling in excess of $185 million, resulting in the creation of more than 1,100 units.
Mountain Plains Equity Group has partnered with LCD Group on previous projects. Don Sterhan, president of Mountain Plains Equity Group, says the partnership is beneficial because LCD Group has “such a great feel for what goes on in the community and state of North Dakota.”
A major reason for this is due, in no small measure, to LCD Group’s status as the only NeighborWorks® America chartered organization in the North Dakota. As part of the NWA network, LCD Group is able to secure resources and provide expertise unique among affordable housing development groups.
“By teaming up we both bring our skill sets to the table, our reputations to the table, and it is a chance to do more together,” Sterhan says.
Ekstrom anticipates many more chances to do more together with Mountain Plains Equity Group and other partners.
“The demand is only growing with Baby Boomers retiring and downsizing,” notes Ekstrom. “We have the resources, reputation, and expertise to continue to help create affordable housing that benefits communities and provides a high quality of life for residents.”
Information about Century Cottages may be found at www.centurycottages.com.
Click here to learn more about his project and LCD Group’s multi-family loans and housing development programs.
Photo Credit: Century Cottages