Turtle Mountain Housing Authority to build 52 new apartments for community members
TMHA closes with RBC Community Investments to begin construction
January 10, 2023
Belcourt, N.D. - (Jan. 9, 2023) — Turtle Mountain Housing Authority (TMHA) recently closed with equity investor RBC Community Investments to begin construction on its $19 million affordable housing development, Turtle Mountain Homes #10. The development will provide 52 new apartments for community members on the Turtle Mountain Reservation in Belcourt, North Dakota.
“Without the commitment of the “team,” consisting of housing staff, consultants, architects, engineers, legal counsel, and the investors, this project may not have been realized,” said Rebecca Orlander, TMHA executive director. “Weeks to months of planning, revising and negotiating, coupled with weekly meetings, dedication and long hours, the project closed; and the construction has begun! Completion of the project will replace its oldest housing projects, and revitalize the community, and will make a difference as TMHA strives to meet the goals for which it was established.”
Turtle Mountain Homes #10 received a 2022 Low Income Housing Tax Credit (LIHTC) award from the North Dakota Housing Finance Agency (NDHFA) that generated $6 million in investor equity from RBC Community Investments for the development.
“RBC Community Investments is proud to close our fourth LIHTC partnership with Turtle Mountain Housing Authority,” said John Galfione, a director at RBC. “We are excited to see construction progress and welcome families in need of high quality, affordable housing to their new homes.”
The new development includes a 28-unit building and a 24-unit building with a mix of studio, one-bedroom and two-bedroom units. TMHA put in a lot of effort to prepare the development site for new homes. TMHA received $1.3 million in EPA clean-up grants to rid the site of contaminates and $2.9 million in ICDG CARES Act funding to safely demolish 21 dilapidated structures.
TMHA partnered with Travois for consulting and asset management and compliance services. Travois is a Certified B Corporation focused exclusively on promoting affordable housing and economic development for American Indian, Alaska Native and Native Hawaiian communities.
“We are proud to partner with TMHA on this development,” said Meaghan Pasbrig, project manager at Travois. “The group’s commitment to identifying the needs of their community, diligently planning how to meet those needs, and taking collaborative action has completely transformed the neighborhood on the Turtle Mountain Reservation.”
About the Low Income Housing Tax Credit
The housing credit provides the private sector with an incentive to invest in affordable rental housing for low-income families. Since President Reagan signed it into law in 1986, the housing credit has financed the construction and preservation of more than 3.6 million affordable homes nation-wide. Today it produces virtually all new affordable housing and is the nation’s primary tool for preserving existing affordable housing. The housing credit supports low-income families, veterans, people with disabilities and seniors in rural, suburban, urban and tribal communities. For more information, visit rentalhousingaction.org.
About RBC Community Investments
RBC Community Investments is a leading syndicator of Low Income Housing Tax Credits, Renewable Energy Tax Credits, Historic Tax Credits, State Tax Credits, and Workforce/Impact Housing. By creating well-structured investments, our team of experienced professionals helps create the development of affordable multifamily communities and renewable energy solutions throughout the country. For more information, visit http://www.rbccm.com/communityinvestments.
Travois is a Certified B Corporation focused exclusively on promoting housing and economic development for American Indian, Alaska Native and Native Hawaiian communities. Since 1995, Travois has brought investor equity to more than 247 developments through the Low Income Housing Tax Credit (LIHTC) program and New Markets Tax Credit (NMTC) program, making an impact of more than $1.7 billion across Indian Country. These private investor funds have helped build or rehabilitate 6,124 homes and have helped finance critical economic developments, including infrastructure, health care, community centers, education facilities and job incubators. The Travois family of companies also offers architectural design, construction monitoring services, consulting on green energy improvements, asset management and compliance services, impact investment models, and comprehensive training to clients in 22 states. For more information, please visit travois.com.