Preview:
Collin Bangs got a phone call when the historic property on Wolf Avenue in Missoula went up for sale.
His daughter, Melissa Bangs, lives next door. She’d seen other apartment complexes sell, new owners hike up rents, and longtime residents displaced.
Collin Bangs, a developer in Missoula who has long worked in affordable housing, said his daughter told him a sale on the open market would devastate her neighbors.
“If that happens, half of those people will be homeless,” Bangs said his daughter told him.
She asked him to buy the property instead and hold onto it for a spell.
If he could buy it, she’d rally the tenants and housing...
Read MoreOur thoughts on this story:
Read this article closely as it’s nothing but smoke and mirrors. The public spends $1 million to build 8 housing units that are as small as 395 sq. ft. and which equates to $125,000 per unit. All this to save people $100 per month in rent using this goofy coop structure. The free market is good at this stuff and bureaucrats are not – so please stop with this stuff as you are embarrassing yourselves.