Affordable Housing

to build a better Black Hills

Partnering with communities to advance affordable housing for low-to-moderate income households.

Left photo features The Radiant by Cody Lere Photography

More Inventory for More Stability

Low housing inventory continues to increase housing costs  and pressure the budgets of Black Hills residents. 

The Black Hills Area Community Foundation advances below-market-rate housing to strengthen and stabilize working households. Our Strategic Housing Initiative extends funding to borrowers to create or sustain affordable units.

Proof of concept in Rapid City

The Strategic Housing Initiative has proven successful in Rapid City. There are over 500 affordable units planned, bringing over 1,000 bedrooms to the region.

With strong proof of concept in place, our Trust Fund model is now available to communities across the Black Hills.

The Radiant

The Radiant offers 30 affordable units just east of downtown Rapid City. Nonprofit CommonBond Communities owns the complex and provides wraparound services to residents. The tenants may receive food, transportation, and employment resources.


Photo courtesy of Cody Lere Photography.

Sagebrush Flats

Opening in the spring of 2025, Sagebrush Flats will bring 180 affordable units southwest of Omaha and Cambell Street in Rapid City. Blueline Property Management owns and will manage the multi-building apartment complex.

Springs Edge

Springs Edge will bring 41 affordable units to Rapid City when it opens in the summer of 2024. Lloyd Companies owns and operates the property, which stands at the corner of Stumer Road and Shelby Avenue.

A flexible resource for the region




Strategic Housing Trust Funds help fill a small, yet vital funding gap for developers and purchasers who wish to construct, refurbish or retain affordable units.

How IT works

1.) Local leaders establish an advisory board to guide a Strategic Housing Trust Fund.

2.) The advisory board reviews housing project applications and recommends funding for projects.

3.) Borrowers repay the Trust Fund for generations of revolving impact.

What does “affordable housing” mean?


“Affordable housing” is a term used by the United States Department of Housing and Urban Development (HUD). According to HUD, affordable housing serves households earning 80% or less of the Area Median Income (AMI).

For example, 80% of the AMI in Pennington County is $57,400. Then, for a unit to be considered affordable, all housing costs must account for 30% or less of gross household income. For a household earning $57,400, rent and utilities would need to be $1,435 per month or less.

Learn more about the Strategic Housing Initiative

Why is the Strategic Housing Initiative needed in the Black Hills?

Low and aging inventory drives high housing costs across the region. The issue is compounded by population growth, high borrowing rates, rising property values, and workforce shortages in technical trades.

For example, to meet expected demand, Rapid City will need to add 5,800 housing units by 2030, according to a 2022 study. Explore Elevate Rapid City’s Housing Dashboard to see up-to-date figures about Rapid City.

Who might benefit from affordable housing?

A working family who earns $20,000 to $50,000 annually may be an example. The residents could be hospitality workers, bus drivers, childcare providers, forestry workers, nursing assistants, pharmacy technicians, enlisted military personnel, electricians, or many other types of professionals.

Which communities can benefit from Strategic Housing Trust Funds?

The Strategic Housing Trust Fund model is a flexible tool available to communities across the Black Hills. Local leaders guide each Trust Fund through an advisory board. For example, The Radiant, based in Rapid City, was the first completed affordable housing community.

How much funding is needed to advance an affordable housing unit?

Each Strategic Housing Trust Fund extends financial support for a small, yet crucial portion of total housing project costs. In Rapid City, every $1 million can help create or retain roughly 50 below-market-rate units. However, the cost varies depending on the type of housing effort and the community.

Who makes the Initiative possible?

The generosity of our donors makes our work possible. Our key partners include the John T. Vucurevich Foundation, Elevate Rapid City, the City of Rapid City, and the Bush Foundation. The success of each project depends on public and private partnerships within the local community.

Can a business support the Strategic Housing Initiative?

Absolutely. The Strategic Housing Initiative offers a great way to help Black Hills residents build a better future. Together, we’ll customize a giving plan that speaks to the mission and values of your organization. Connect with us to learn more about the opportunity.

Stay informed on Strategic Housing and other initiatives.

Sign up for our quarterly newsletter to learn the latest news and updates from the Black Hills Area Community Foundation.

Let’s create a thriving Black Hills together.

Have questions? Connect with Greg.

Greg Litton, Director of Strategic Housing, collaborates with our communities to advance affordable housing initiatives across the Black Hills. He’s happy to answer your questions about the Strategic Housing Trust Fund model.