Belgrade Trailer Court was listed for sale in 2023 for $1.5 million. HRDC, a mission-driven nonprofit dedicated to fighting poverty, is purchasing the property in February 2024 to preserve critical affordable housing and prevent displacement of community members. In the near term, HRDC intends to continue the operations of the community with as few changes as possible.

Long-term, two possible pathways ensure the preservation of the community: HRDC maintains ownership and operations, or residents form a Resident Owned Cooperative (ROC) to purchase the property from HRDC and assume ownership as residents. In a ROC, homeowners form a non-profit business called a cooperative. Each household is a member of the cooperative, which owns the land and manages the business that is the community. HRDC would sell the land to the ROC.

To purchase this property, HRDC was required to take on mortgage debt. HRDC has temporary financing for two years. During these two years, HRDC, NeighborWorks Montana and the community, will have time to assess which pathway forward works best for everyone.

“Our goal is to preserve the property as the functioning community that it is today. We do not seek profit in this transaction. Given Southwest Montana’s ongoing affordable housing crisis, we are very pleased to be able to preserve another affordable housing option in our community to ensure all those who live and work here have housing options that fit their household budgets,” said Heather Grenier, HRDC’s President and CEO.

As a private, not-for-profit Community Action Organization focused on building a better community through its nearly 50 initiatives, HRDC combats poverty in southwestern Montana.

For all other HRDC programs or services, visit thehrdc.org.