NMCDC is proud to bring Lee Gordon Place’s (LGP) 7 townhomes to Missoula’s fast-changing downtown. The homes, located at 501 & 505 E Front Street, are across the street from the new library site, adjacent to Kiwanis Park and two blocks from the Missoula Children’s Theater.
One fully accessible home in the rear of the 505 E. Front St. building remains on the market for sale to an income qualified household. That home will be held for a home buyer needing such accommodation until the 1st of April. At that time, it will be available for purchase by any qualifying household. Please inquire at (406) 829-0873.
Read the NMCDC Homebuyer Education Packet for all the information you might need about Lee Gordon Place, including who is eligible to purchase, what it means to buy a community land trust home, and how the application process works!
Next, fill out your Homebuyer Application.
Who is eligible to purchase?
For the Lee Gordon Place project, all townhomes (2 bedrooms and 4 bedrooms) are only available to be purchased by households earning less than 80% of the Area Median Income (these numbers are updated yearly by HUD). See below for what that means for your household.
Maximum income (80% Missoula Area Median Income) by household size (# of people):
- Household of 1 – $39,450
- Household of 2 – $45,050
- Household of 3 – $50,700
- Household of 4 – $56,300
- Household of 5 – $60,850
- Household of 6 – $65,350
- Household of 7 – $69,850
Before applying, be sure to read our complete description of Who is Eligible.
NMCDC is an Equal Housing Opportunity provider and conducts business in accordance with the Federal Fair Housing Law.
Potential home buyers must be both income qualified and eligible for a mortgage sufficient to cover the hone’s purchase price. Lenders must make a good faith effort to ensure that you have the ability to repay a mortgage before you take it out. Required documents should include income:
- Credit History
- Monthly expenses and
All mortgages must fit the affordable housing model. Predatory mortgages are expressly prohibited.
Loan types expressly allowed include:
- Loans that are eligible to be purchased, guaranteed or insured by the Montana Board of Housing, VA, USDA, Fannie Mae, or Freddie Mac
- Loans insured or guaranteed by the FHA or HUD
Loan types expressly NOT allowed include:
- No-documentation and low-documentation loans
- Loans that tie the interest rate to an index (adjustable rate mortgages)
- Interest-only loans, with a period of time where payments go to pay the interest without paying down the principal
- Negative amortization loans that allow the principal amount owed to increase over time, even though you are making payments
- Balloon payment loans
- Loans with terms that exceed 30 years
- Loans with excessive upfront points and fees (3% or less of
totalloan amount on loans of $100,000 or more)
Homeowners and lenders must submit loan documents to NMCDC before closing on the home.
Anyone interested in purchasing a community land trust home can be placed on an interested party notification list for homes that come up for resale. It helps to review the NMCDC Homebuyer Education Packet to see how the process is initiated.
History and Process
In the spring of 2015 the 503 East Front Street property was gifted to the NMCDC by the heirs of Lee Gordon and the name of the future residential development, Lee Gordon Place, memorialized the family’s generous contribution. The development of Lee Gordon Place, through the the Land Stewardship Program, provides a model of non-gentrifying neighborhood improvement – one that if replicated, could become the place-based inoculation needed to keep this centrally located area income-inclusive for Missoula’s full range of citizenry. Lee Gordon Place, comprised of seven permanently affordable townhouses, will be move in ready in early 2019.
The site is a 14,000 square foot formerly was occupied by a 9 unit residential structure. A large portion of the existing structure was constructed in 1882 by the Heyfron family, and subsequent additions, divisions and remodels have resulted in a wide range of building materials and construction styles within the structure. In December of 2015, the U.S. Department of Environmental Quality conducted a Phase II Assessment of the property identifying asbestos, lead paint and one mercury thermostat as materials of concern within the structure as well as lead soil contamination around the perimeter of the building. The asbestos and lead has to be mitigated prior to the deconstruction of the building and redevelopment of the site. The NMCDC was granted funding for abatement work through the EPA’s Brownfields Revolving Loan Fund Program by the Missoula City Council on June 13th, 2016.
4/18/2017 – Lee Gordon Place Update
A temporary fence was added to the perimeter of the property as lead and abatement of the current structure has begun in preparation for deconstruction and historical documentation. The three large trees on site were removed to prevent the nesting of migratory bird species and allow for access to the existing structure and redevelopment of the entire site.
8/14/2017 – Lee Gordon Place Update
Mitigation of lead paint and asbestos within the structure is complete. This was funded through the City of Missoula Brownfields RLF Funding.
Heritage Timber deconstructed the building and salvaged as many materials of possible. The entire process was documented by an archaeologist and a public presentation will be compiled at a date yet to be determined. The Missoula Redevelopment Agency provided funding for the deconstruction. Historical documentation was funded by, in part, First Interstate Bank.
10/23/2017 – Lee Gordon Place Update
While the EPA Phase II of the 503 East Front Street site identified the presence of lead surrounding the structure, it was assumed that the source was from years of flaking lead paint. However, once the structure was removed and soil was retested, the soil present on almost the entire Lee Gordon Place site was identified as containing abnormally high levels of lead. The source is unknown as the history of the site has been agricultural and residential. The high levels of lead triggered the required removal of the top two feet of soil from almost the entire site. The cleanup was overseen by the Montana Department of Environmental Quality and made possible by the Orphan Share Fund with coordination and support of Republic Services. The soil removal was completed in late October and the site was cleared for development.
1/19/2018 – Lee Gordon Place Update
After opening bids for the services of a General Contractor on the 28th of November of 2017 the NMCDC signed a contract with Pew Corporation and and closed on a construction loan with First Interstate and Stockman’s Banks.
1/31/2018 – Lee Gordon Place Pre-Construction Meeting
Design and Construction of Lee Gordon Place is funded through a combination of federal funding sources. The City of Missoula is an entitlement city for Community Development Block Grant Program and HOME funds and both funding sources, awarded in August of 2016, supported the development of Lee Gordon Place. Additional funding was allocated to this project in 2016 from the State of Montana, Department of Commerce HOME program. These grant funds combined with NMCDC’s out of pocket contribution, together with the construction loan provided the funding needed to bring seven homes onto the Missoula Real Estate market at below market rate values for income eligible buyers..
1/31/2019 – 3/31/2019
Lee Gordon Place was constructed over a 14-month construction period. There will be a ribbon cutting for Lee Gordon Place on May 10, 2019 at 4:00 p.m. Please join us all to celebrate this hard-won addition of permanently affordable homes in Missoula’s rapidly changing downtown.
View our other Land Stewardship Programs: