Upcoming Affordable Housing Solutions in Bozeman - Bozeman Real Estate Group
BOZEMAN REAL ESTATE BLOG

It is impossible to deny that Bozeman is in desperate need of affordable housing. With the median sales price of a home in Bozeman creeping past $900k, thousands of residents are finding themselves priced out of Bozeman’s real estate market. It is easy to feel like there is no progress being made when it comes to affordable housing in Bozeman. But, there are organizations, individuals, companies, and developers who are all working to address Bozeman’s affordable housing shortage as best they can. In this post, we take a look at some upcoming affordable housing solutions in Bozeman.

Photo credit: Hennebery Eddy Architects


Bridger View Homes

The Bridger View homes are currently under construction just east of Story Mill Park. There will be 62 homes at Bridger View, half of which will be for sale at current market values and half of which will be for sale below market rates. The 31 below-market-rate homes will be priced at levels that middle-income Bozeman residents can afford.

To qualify to purchase one of the below-market-rate homes, your household income will need to be less than 120% of the area median income. According to the Bridger View website, that is currently estimated to be under $110,000 for the buyer’s gross household income. Applicants that are approved will be entered into a lottery system for the available homes. Phase 2 of this project recently closed for applications. Each owner of a below-market-rate home will be able to sell their home at a price that caps appreciation, ensuring that the home remains affordable from one homeowner to the next. 

As of fall 2023, there are three below-market homes available through the Employer Purchasing Assistance Program. This new program helps employers who are facing challenges of employee retention due to high housing costs. It provides a means for an employer to facilitate an employee's purchase of a home in Briger View for approximately half of Bozeman's median price. For more information on these visit Headwaters Community Housing Trust


N. 3rd Apartments

An application has been submitted to the city for a new development in Midtown in Bozeman Montana. The Nth 3rd Apartments will be located near Aspen Crossing next to Westlake Park, north of the Peach Street Condos. The area is zoned R-5 Residential Mixed-Use High Density. The project is proposed to have 216 housing units in 7 buildings and offer a mix of 1, 2, 3, and 4-bedroom units. All of the units will be at 60% AMI affordable levels. Construction is expected to start in spring 2024. Click here for more information.


8 Aspen

8 Aspen was previously called 9ten. The development would be located in Midtown between 7th & 8th Ave, behind the U-Haul building southwest of the Bozeman Inn. Planning documents show that the development will include ground-level commercial space and a second-level parking garage with 135 parking spaces. Five floors will be residential units. 8 Aspen is proposed to be a mixed-income project with 289 units, 40% of them for those making 60% less than the median income. The remaining would be at the current market rate. The project is in the final review stage with the city.


Cameron Crossing

This is an exciting new development regarding affordable housing because they are advertising that homes will start at $250,000! The goal for Cameron Crossing is to create a neighborhood of reasonably priced homes that will feature community gardens, walking trails, a playground, and a dog park. It will be located on 51 acres at the corner of Jackrabbit and East Cameron Bridge Road making it convenient for both Bozeman and Belgrade. The plan is for 260 new, manufactured homes where the homes are built in a factory and brought to the site. People will not own the lots and will pay lot rent, similar to other mobile home communities. It's important to note that there is a community fee for residents at Cameron Crossing starting at $850/month. According to their website, homeowners sign a 5-year lease agreement and the community fee will increase annually. Click here to visit their website for more information.

On the 20 acres next to Cameron Crossing is another new subdivision, the Silos which will consist of approximately 143 single-family homes. Prices have not been set for these homes, but developers expect them to start in the mid $600,000 range.


Arrowleaf Park

The Arrowleaf Park apartments are a newly constructed community located at 1619 Tschache Lane in Northwest Bozeman. Arrowleaf Park offers affordable rental units that are income-restricted. There are one, two, or three-bedroom apartments or townhomes available, the units are pet friendly and there are ADA-accessible units available.

This affordable housing development was brought to life by HRDC and GMD Development. Arrowleaf Park not only offers housing, but there is also an early child care center run by Family Promise on the premise that is open 7 days a week with extended hours for children whose parents work less traditional hours. Family Promise has been working on childcare scholarships for families based on needs and income.


Perennial Park

Perennial Park is a sister project to the Arrowleaf Park development that provides affordable rental housing for people 55 years or older. The apartments are brand new and feature full kitchens, washers & dryers in the unit, private balconies, and energy-efficient windows. The Perennial Park apartments are income-restricted; you can see the most recent income limits here.

There is a Community Health Partners clinic facility on-site that offers affordable medical, dental, and other healthcare services to Perennial Park residents as well as the public. Residents can also enjoy community gardens, walking paths, a fitness room, and a library.


Workforce Housing at Yellowstone Airport Plaza

A workforce housing development in the Yellowstone Airport Plaza is bringing more than 100 units of workforce housing to the area. According to a news article, there are units with up to 4 bedrooms available in this development. At the time that article was written, more than 40% of the units had been pre-leased by employers in the area, Bozeman Health being one of them, in order to secure housing for their employees.


FireHouse

This project is still in the early phase, but plans are moving forward to turn the old fire station on N. Rouse and E. Mendenhall into affordable workforce housing. According to a proposal submitted to the city, the developers are "100% committed to building truly attainable (for rent) workforce housing and dedicating that housing to local small businesses". The developer's goal is to build housing that someone making $20/hour could afford to live downtown. The developer is working on getting funding to support the project. Stay tuned for details.


The Guthrie

Another downtown workforce housing in the early stages is the Guthrie. This proposed development would be at the corner of N. 5th and Villard where the Bridger Rehab and Care Center is located. The project would be a five-story building with 111 one-bedroom units with half affordable housing. Find out more here.  


Turnrow

The city is working with a developer to find an affordable housing solution on the north side of town. The city used American Rescue Plan grant money and invested $5 million dollars to build sewage infrastructure. For that. the developer is giving a 5-acre tract of land that will be used for affordable housing. They plan to provide 100 units on the land that is located near Billings Clinic. This is a new approach for both the city and the developer and something the city hopes to continue as they try to find more attainable housing for the community. Construction on Turnrow is expected to begin in 2024, click here for more information.


While these projects are all a step in the right direction, we know that Bozeman still has a long way to go to solve its affordable housing crisis. Some great organizations in Bozeman are working through these challenges, like Family Promise, HRDC, and One Valley Community Foundation. If you feel passionate about Bozeman’s housing issues and want to help facilitate change, we encourage you to support these organizations, attend their meetings, and join their boards. You can also attend the city commission meetings and become involved with the Community Affordable Housing Advisory Board bi-weekly meetings to help make a difference. You can also check out this post for more on affordable housing in Bozeman.

 

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