GREAT FALLS, MONT. — Community Preservation Partners (CPP) has acquired Elmore Roberts, an affordable apartment property in Great Falls, with plans to renovate the asset. CPP’s total development investment is approximately $13.2 million, which includes the $3.1 million purchase price and an estimated $97,000 per unit renovation cost.
Located at 6 6th St. S., Elmore Roberts features 60 units in a mix of 30 one-bedroom and 30 two-bedroom layouts. Planned renovations include addressing deferred maintenance and outdated systems, including ADA accessibility, and increasing sustainability across the property.
In-unit renovations will include new formaldehyde-free cabinets and countertops, Energy Star refrigerators and upgraded ranges and range hoods. Additionally, units will receive low-flow toilets, updated showerheads and faucets, LED lighting upgrades and a new coat of low-VOC paint. Exterior and community upgrades include new windows, roofing and gas furnaces, path-of-travel upgrades, parking lot restriping and brick pointing. CPP will also upgrade the laundry room and add a community area with a computer room.
Renovations are slated for completion in December. Project partners include WNC & Associates, Glacier Bank, MBOH, Montana Healthcare Foundation and the City of Great Falls.
The property’s two ModRehab contracts were set to expire in 2024, but with CPP’s involvement, a new 20-year HAP contract will be in place. In addition, the units will be restricted to residents earning up to 50 percent of area median income for a period of 50 years under the LIHTC program.
Originally built in 1917 by William Roberts and converted into an apartment building in 2007, Elmore Roberts is listed in the National Registry of Historic Places Inventory under the National Parks Services.