$27 million apartment complex helps with Billings housing gap
BILLINGS, Mont. — A new $27 million apartment complex by owner Montana Real Estate will add to the supply of rental housing to meet an increase in demand. The new InterUrban apartments are on the western edge of Billings — a growing area of town. The complex on South 44th Street West features 216 units, covered garages and an outdoor pool. Its sister complex, Interpointe Apartments opened in December across the street.
The management of both apartments cited a growing need for housing in the current market in a press statement. The clubhouse and pool portion of the complex will be complete by spring of 2016, with a plan for the complex to open in the next two years. The two complexes are managed by Tamarack Properties. The six 36-unit apartment buildings cost approximately $4.2 million.
Montana, with a special emphasis on the rapidly expanding Billings area cite a falling unemployment rate as the chief reason for the increase in demand.
Source: Billings Gazette