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Thu May 6, 2004
Non-Profit Forms to Create Affordable Housing in the West
Cheyenne, Wy – Governor Freudenthal was on hand as a non-profit company was unveiled in Cheyenne Thursday. The Mountain Plains Equity Group is the product of conversations by state officials in Wyoming, Montana, and North Dakota about the need for affordable housing. Company CEO Don Sterhan says they hope to serve as a bridge between investors and developers to get more affordable housing built in the three states. No specific communities will be targeted, at first. Sterhan says they will look at projects already on the drawing boards of developers and find out where the needs are.
Sterhan says they've identified several pockets in Wyoming where that need is there. He says those include Casper, Laramie, and Jackson. The Mountain Plains Equity Group now plans to raise 15 million dollars in capital to start funding projects in the next nine to 12 months.