Townhouse project aimed at workforce housing takes shape

Mark Panissidi would like to see the majority of the townhouses purchased in Alta Views subdivision owned by those working and living here year round.

“I would rather sell 80 percent of this project to people who live here,” he said recently while sitting in one of the finished model units in the development targeted at providing workforce housing.

“We encourage first time workforce housing buyers to come by,” he added. “We want to encourage them to not be afraid to come in and see if they qualify.”

Panissidi, a Whitefish-based developer with Del Mar Pacific Group LLC, obtained approval from the city of Whitefish in March to develop the subdivision for construction of 137 new townhouses.

Construction on the townhouse subdivision off JP Road began this spring and the first building opened with model homes this fall. Work is ongoing on the first group of 26 townhouses on a southern section of the project with expected completion in February. The entire subdivision is expected to be completed by the end of 2020.

The new townhouses offer two different floor plans that both include two bedrooms and two bathrooms, ranging in size from 1,562 to 1,858 square feet. All the townhomes include a two-car garage, and access to a club house and 5 acres of open space in pockets throughout the subdivision.

The townhouses are designed with a “mountain modern feel” that includes high ceilings and large windows maximizing natural light. Higher-end finishes have been selected including quartz counter tops in the kitchen and tile in the bathrooms.

Prices for the townhouses start at $289,000 ranging up to $349,000 depending on the location within the development.

Michael Anderson and Jen Dolan, both Realtors with National Parks Realty in Whitefish, are the listing agents for Alta Views. During a recent open house they spoke with hundreds of folks who came to tour the townhouses.

“There’s been a lot of great energy,” Dolan said. “We’re getting a lot of people who say, ‘my mom is looking to move here and would love this’ or people whose grown children are looking to move here.”

“We hearing a lot from first-time home buyers who are interested in these,” adds Anderson.

Dolan says the townhouses in Alta Views that offer a price point under $300,000 that is not available elsewhere in the Whitefish market.

“There is a couple homes in the downtown area, maybe a few in Happy Valley or hotel-style condos,” she said. “This really fills that niche for people. They are also brand new and close to all the amenities. This really fits a lot of the buyers that we have not just solely first-time buyers.”

Townhouse owners own the land on which the dwelling sits, while condominium owners only own the unit. The project also involved converting the existing 29 condos units in the subdivision known as The Views and Deer Creek into townhouses.

Panissidi said structuring the project as townhouses was key to keeping the price accessible to first-time homebuyers and the working class through the mortgage financing available for townhomes.

Condo financing requires buyers to put down 30 percent to 40 percent down payment, he noted, but homebuyers may be able to purchase a townhouse in Alta Views with no money down or just 3 percent to 5 percent down.

“When I sat down to look at this project two years ago, what I found out was that people couldn’t make it financially work to purchase a condo,” Panissidi said. “I polled 30 different Realtors and buyers, and they could afford the mortgage payment but not the down payment.”

Monthly mortgages are expected to run between $1,650 to $1,850 range. Though homeowners association fees are still being determined they would include internet and cable service, along with outside maintenance.

Panissidi says when he examined the rental market in Whitefish prior to designing the project, he realized that renters are often paying that same amount for rent, but in the end don’t own their home. Though purchasers can use any lender, Alta Views has been working with Glacier Bank to provide assistance to interested buyers.

“We encourage people to come in,” he said. “Even if you don’t qualify now, you can get advice on how you might be able to qualify in a year.”

Ten townhouses in the subdivision have been allotted to the Whitefish House Authority under the city’s volunteer inclusionary zoning program and will become part of the housing authority’s deed-restricted housing inventory.

Hammerquist Casalegno is the general contractor and construction manager for Alta Views project. Wright’s Furniture and Budget Blinds have provided services for the model units.

The model townhouses at Alta Views are open seven days per week. For more information, visit https://altaviewswhitefish.com/.