About the Developer

Mountain Plains Equity Group, Inc. - Billings, Montana 

Mountain Plains Equity Group, Inc. (MPEG) has been retained by the land owner, MPEG Land Development, LLC, to serve as the developer for The Homestead subdivision project.  Formed in 2003, it is the mission of MPEG to help support and improve the quality of life in local communities through the development and financing of both market-rate and affordable housing projects.  MPEG has the capability to take a project from the concept stage to ultimate completion.  Our team is comprised of experienced and capable professionals in areas of acquisition and underwriting, financial analysis, auditing, asset management, architecture and development.

Historically the company’s core business has been the syndication of Low Income Housing Tax Credits (LIHTC) through the creation of private equity funds.  Institutional and corporate investors contribute to these funds, providing a source of equity investment capital.  MPEG, in turn, makes this capital available to developers of LIHTC projects in exchange for the federal tax credits allocated to the project.  A relatively high proportion of equity-to-debt results from these investments, a capital structure that allows the project owner to offer below-market rents for income qualified tenants.

Since its inception, MPEG has arranged over $150 million in equity to develop 42 projects representing 1,434 units and over $212 million in total development costs.  MPEG also provides asset management services under contract to two state Housing Finance Agencies (North Dakota and Alaska), overseeing the development and management of four additional projects with a total of 144 rental units.

Given its role and responsibilities in financing numerous multi-family projects, MPEG brings to bear considerable experience and expertise in pre-development analysis and project development.  Where appropriate, MPEG is now utilizing this expertise to assume a more active role as the developer and owner to facilitate projects where there is a recognized need for housing and for other development opportunities.  These services can apply to affordable housing, market-rate housing, hospitality and commercial development projects.