Bozeman Montana Real Estate Information Archive


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More Affordable Housing Coming to Bozeman

by Hart Real Estate Solutions

Bozeman is growing exponentially— this is no surprise. What might be surprising though is how quickly it is predicted to grow by 2045. Between 2000 and 2016, Gallatin County added roughly 2,200 new residents each year. From 2017 to 2045, Gallatin County is expected to gain nearly 55,000 new residents, with 50% of these residents expected to live in the City of Bozeman.

It’s been a seller’s market in Bozeman for some time now, with both available inventory and housing affordability increasingly becoming more of an issue in our market. The greater Bozeman area has experienced an average 8.3% increase in median sales price over the last 5 years. Currently, the median home price in Bozeman is $398,000— meaning that a household needs to earn at least $68,400 per year, or $32/hour for one earner, in order for this home to be considered affordable at the 30% of income affordability standard. While the median household income in our area is $68,000 (indicating that home prices are in line with incomes), this statistic doesn’t account for the quality of the housing that is available at this price.

However, with the city’s prices on track to surpass wages, and so many people moving to the area over the next few decades, the need for more affordable housing options is critical. The latest affordable housing project is being led by HRDC, and will be constructed on a parcel of land that partially wraps around Baxter Square Park (just under 3 acres), a quarter mile northwest of the North 27th Ave and Baxter Lane intersection. The 24 townhomes will be available to families who earn between $30,000 and $40,000/year, and those who are interested must financially qualify and complete HRDC education and home buying courses.

The Location Dilemma

Years ago, previous developers created a human-made pond adjacent to the future location of the new affordable townhomes. Their project was stalled in 2008 after the recession and was never fully completed. Over the past decade Cattail Creek merged with the pond, creating an expanse of wetlands in the area, resulting in a difficult location to build on.

Originally, HRDC had plans for a few single homes— they’ve since asked city commissioners to approve constructing the new affordable units closer to the pond, in addition to reducing both the size of the lots and the amount of space between homes and the streets. HRDC also proposed the creation of dog stations, individual lot fencing, and enhanced building signs for each of the units. City commissioners approved the project on February 26th, as it falls in line with their preference for constructing more homes on less space as Bozeman continually adds several thousand new residents every year. 

Future Location for Affordable Townhomes (Approximate)


Next Steps

If Bozeman continues to grow as quickly as it is predicted to (an additional 27,500 residents by 2045), then projection estimates will demand 12,700 new housing units over the 2017 through 2045 time period. In order to construct all of these units, developers need between 1,800 and 3,100 acres— the current supply in city limits for residential development is 1,300 acres.

While some of these new 12,700 units will be single-family homes, others will be multi-family buildings, townhomes and duplexes. Some will be affordable housing opportunities, and others won’t be.  At any rate, Bozeman IS growing, and quickly. Whether growth means that we expand up, or expand out, expansion of some sort and the addition of more affordable housing options will be necessary over the next few decades as our city prepares for massive growth.

Another Mid-Rise Building Proposed for Downtown Bozeman

by Hart Real Estate Solutions

Last fall, construction on the controversial Black-Olive building was approved by Bozeman City Commissioners after more than a year of discussions, meetings, and revised design plans. Many Bozeman residents (and in particular, those who live downtown) were and still are concerned that the building will ruin Bozeman’s small-town charm, while others believe that the solution for our rapidly growing community is to “build up” instead of “build out”.

Andy Holloran, the same developer behind Black-Olive, has recently proposed plans for a five-story, 50-unit building on the corner of Lamme and Willson, across the street from the old Deaconess Hospital building. The new mid-rise (currently being called the One 11 Lofts) is expected to include 4 studios, 24 one-bedroom, 11 two-bedrooms, and 11 three-bedroom units. Based on its proposed location, the building is zoned in the city’s Central Business District— which means that the ground floor may or may not include commercial space for businesses.

Will Parking Be an Issue?

One of the major reasons why Black-Olive was originally denied was due to a lack of sufficient parking being included in the first round of design plans— only 37 on-site parking spaces for 56 apartments. Neighbors in the vicinity to Black-Olive were concerned about residents filling up already crowded street parking in front of their homes.

The One 11 building plans currently include 53 parking spaces for the 50 units, which is within the city’s requirements of a single space per unit. Most of these parking spaces will be located within an enclosed garage on the building’s first floor, with 6 spaces on the street outside. So far, the amount of parking provided in Holloran’s first draft of plans is significantly larger than that of Black-Olive.

Next Steps

Though construction on Black-Olive will begin in May, the One 11 plan is under review by the city. Planning documents describe the building as featuring corrugated metal, wood paneling, a flat roof and light-colored brickwork, ultimately giving it a “timeless and contextual quality”. Will this mid-rise threaten Bozeman’s small-town charm and obstruct mountain views? Or will it help maintain downtown’s sense of historic value while still offering a solution to limited housing in the area? For now, all we can do is wait to see how the city responds to the proposal.


Proposed Location for One 11 Building

By now, most Bozemanites are aware that the city will soon break ground on a second high school on the west side of town. However, Bozeman High School isn’t the only school that will soon be full— all 8 of the existing elementary schools are expected to reach capacity by either 2020 or 2021. With Bozeman’s rapid growth rate of about 4.2%, it comes as no surprise that schools are quickly reaching capacity. Based on how fast the Bozeman school enrollment has been growing every year, the School Board says that the district will need two new elementary schools in the next 10 years.

The school district currently owns several parcels of land—however, none of them are ideal for elementary schools because they are in areas of town that are not growing the fastest, and therefore do not need additional schools. Ideal pieces of land that Bozeman school officials are interested in purchasing include the parcels near the post office on Baxter Lane, and a parcel south of Huffine Lane near Ressler Motors. In order to raise money to purchase these parcels of land, school officials are hoping to sell the land they currently own— the Emerson lawn at Babcock and 4th Avenue. With the deadline to put a land purchase for schools on the May 8th ballot coming up on February 27th, school officials are eager to sell the land their currently own as soon as possible. So far there are three Emerson lawn bidders, though none of the three bids have met the current appraisal amount for the lawn ($2.275 million).

Desired Locations

Both parcels of land located near the post office are long and thin— not ideal for a school. To remedy this, school officials want to buy both parcels and combine them into one, square-shaped, 10-acre parcel. Luckily the owners of both parcels inherited the land, and are more than happy to sell the land, since it will become home to a school, rather than another condo complex. The total cost of both parcels is estimated to be around $1.6 million. Developer Gene Cook owns the 12-acre parcel of land just southwest of Ressler Motors off of Huffine Lane— school officials have stated that although terms of a deal haven’t been negotiated just yet, they are hopeful that the developers will be willing to either work out a land trade or donate several acres to the school district.

Bozeman school officials will ask voters in May to approve either one or both locations for the future elementary schools and are hoping to have the money from the Emerson lawn sale in hand by that time so that school officials will not have to ask voters for money or tax hikes. 


Current Elementary Schools (Blue) and Probably Future Locations (Red)

A New Solution: Bozeman’s First Affordable Housing Director

by Hart Real Estate Solutions

Bozeman’s Affordable Housing Action Plan pinpointed several major strategies to implement over a 5-year timespan (2012-2016). Its purpose was to work on providing more affordable housing units and down payment assistance for both renters and homeowners alike. While this plan outlined several goals that were partially met by the end of 2016, affordable housing in Bozeman is still a significant issue that needs continued attention and work in the future.

In 2010, 28% of homeowners and 49% of renters in Bozeman were living in unaffordable housing, when using the widely accepted benchmark amount of <33% of total income for homeowners and <30% of total income for renters. It’s important to note, however, that there is no universal home price or rent benchmark that defines “affordable”— this varies by income level and should be based on ability to pay.

 By 2015, at least 4,000 of the city’s 8,400 renters were paying rents at or above the 30% threshold, while a third of homeowners were paying at least that much, if not more.

Is Something Being Done to Help?

With these statistics not having improved much in recent years, the City of Bozeman has decided to hire its first affordable housing director. The person who will fill this new position (expected to begin by the end of January) will be responsible for generating solutions to help reduce the gap between the cost of housing and how much many Bozeman residents can afford to pay.

Six months ago, Bozeman planning adopted a new rule that mandated that builders and developers would have to either sell 3 in 10 homes in new developments at $260,000 or less, OR 1 in 10 homes at $215,000 or less, subject to change based number of bedrooms per unit. The city has been trying to keep up with this rule, which is where the need for an affordable housing director stems from.

Additionally, the new director will help to track housing projects from the time a building permit is issued to the time that someone closes on their home, in order to ensure that this 6-month-old rule is followed from start to end.

As 2018 unfolds, it will be interesting to see how this new position begins to change the affordable housing market and what impacts it will have on many of Bozeman’s renters and homeowners who are currently above the income threshold for housing. 

The Annie and Oak Street Issues: Bozeman’s Second High School Faces New Challenges

by Hart Real Estate Solutions

While the overall design for Bozeman’s 2nd high school has been approved, the actual design drawings will be completed sometime this month, at which time the School Board will take its final vote on the design. Previously, we had learned that the design was modern and sleek, with elements of brickwork, black metal cladding and an all-glass entryway incorporated into the plans. Only small modifications to this design have been made by Building Committee members, which include using traditional red brickwork rather than the originally proposed grey, and using white instead of purple for the triangle outside the main entry.

The Annie Street Issue

City staff members are in favor of the school district building Annie Street east-west, which would cut through the middle of the property where the high school will be constructed. This expense is estimated at $800,000, and would require students to cross a city street in order to reach the playing fields. While the school conducted a traffic study and found that Annie isn’t a heavily used street, the city feels as though building this street is needed for the transportation system.

The Oak Street Issue

While the school had discussed using a portion of the budget to build a soccer field and parking lot on the north side of Oak (across the street from the new school), designers have other plans— building a pedestrian tunnel under Oak Street AND constructing an overpass over the tunnel.

The land north of Oak is city-owned, which means that the plans for a field and parking lot would be a collaborative project with the city’s plans to develop a sports complex. Creating both a tunnel and overpass, while great for ensuring pedestrian safety, present the challenge of meeting the budget.

The goal budget is between $76 million and $78 million, the current design is around $87 million, and once site work, streets and the possible tunnel are factored in, the entire project will cost $93 million.

Future Location of Second High School/Sports Complex

Only Time Will Tell

The Annie Street issue will be discussed as soon as next week, although we aren’t sure when we’ll find out whether the tunnel and overpass project will move forward. Revisiting the budget and cutting costs will likely need to happen before any major decisions are made. Sometime after the new year, however, we can expect to find out more about the new school’s colors, logo and mascot.

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Design Plans for Bozeman's 2nd High School in the Works

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Long-Debated Black-Olive Project Gets Approved by City Commissioners

Long-Debated Black-Olive Project Gets Approved By City Commissioners

by Hart Real Estate Solutions

In September of 2016, the Black-Olive project was first presented to Bozeman City Commissioners as a 5-story building that would feature 56 apartments, as well as commercial business space on the ground floor and 37 on-site parking spaces. Many neighboring residents spoke out at both public meetings and on Facebook’s “Save Bozeman” page to express their concerns that the contemporary building would ruin Bozeman’s small-town charm and negatively impact street parking.

On April 11th of this year, this proposal was denied with a 4-1 vote, although it was stated that developer Andy Holloran intended to modify the design and resubmit his proposal for later review. Fast forward to last week— the Black-Olive development was APPROVED after more than a year of discussions, meetings and revised design plans, ironically with a 4-1 vote. The project will include demolition of the two-story building currently located at 202 S. Black Ave.

What Else?

The new design has been modified to feature 66 bedrooms within 47 apartments, while providing 40 parking spaces for those residents.  Although some commissioners and citizens were still against the project, stating that the building was too big and that parking constraints were already an issue, others disagreed. Commissioners I-Ho Pomeroy and Jeff Krauss support the idea of creating more housing opportunities downtown, which would include growth upward instead of outward.

What Now?

Although the project has been approved, Holloran will be required to make minor changes to the building’s top floor to scale back its elevation. After finishing the design to accommodate this amendment and obtaining both a building and demolition permit, Holloran expects to break ground sometime this spring. 

Future Location of Black-Olive Project

Design Plans for Bozeman’s 2nd High School in the Works

by Hart Real Estate Solutions

We already know that Bozeman is quickly growing, and it comes as no surprise to anyone in the area that the high school is becoming overcrowded— just last year nearly 2,000 students were enrolled. With a capacity of 2,400 and a predicted enrollment of 2,700 by 2023, it only makes sense that plans for a 2nd high school are currently underway.

Back in February of 2016, several different scenarios for how to solve this problem were presented, a few of which included ideas for staying on Main Street by expanding the current building. However, it has been decided that the best course of action is to construct a 2nd high school, currently planned to be built on a 57-acre plot bordered by Durston & Cottonwood roads, Flanders Mill and West Oak Street.

What Else?

The latest cost estimate for this project is around $83 million, though it is expected to shrink since it is still in the design phase. The entire budget for the school is targeted at $94 million, with more than $10 million going toward equipment, fixtures and furniture. Some of these costs will also be used to renovate the existing high school to keep up with its rapid growth. CTA Architects Engineers, the firm working on developing the new school, will present its final design plan to the Bozeman School Board this December.

The design that was shown last week is modern and sleek, with some brickwork on the three-story classroom building to channel historic Main Street. Extensive black metal cladding, a wedge-shaped roof, all-glass entry and a two-story, stair-like tiered seating structure are all also currently included in the design plans, though these features are subject to change.

Current Design For 2nd High School

Source: CTA Architects Engineers

It’s Green, Too?

The school will also be constructed to environmental standards specifically tailored to schools instead of LEED building standards, which is the most widely used green building system in the world. Though using CHPS (Collaborative for High Performance Schools standard) will run about $10,000 less than LEED, the school chose these standards because it has many of the same features and is more geared toward K-12 schools.

The design report  that was approved by the school board earlier this month contains a CHPS checklist (pages 25 and 118), which demonstrates how the new school will aim to earn 125 environmental points. Many of these points will be earned for its energy efficiency, acoustics, water use regulation and heating system, in addition to sharing the building with other community groups after school.

Pros and Cons

Though we aren’t sure yet when construction will begin, the new school would create more opportunities for students to join sports teams and enroll in special classes like AP and foreign languages.  On the other hand, additional costs for building upkeep, hiring staff and another principal, and funding for double the number of sports teams is generating concerns from both parents and the School Board. Though there are still many details to be worked out over the coming years, one thing is for certain— Bozeman is still rapidly growing, and addressing the soon-to-be overcrowded high school now rather than down the road seems to be the best course of action.

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Belgrade Expands and Prepares For Future Growth

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Bozeman Ranks Second as the Fastest Growing Small Town in America

Bozeman’s 4th Mid-Rise Building Proposed to Replace an Old Grain Mill

by Hart Real Estate Solutions

Bozeman’s 4th mid-rise building is currently being scoped out for a site on the east side of downtown. This BG Mill building will have a little more character than the rest though, turning an old grain mill that has been vacant for decades into a 5-story, multi-use building with a mixed modern/rustic style architecture.

The proposed plan for the BG Mill project includes a parking garage and a small commercial space on the ground floor, 18,000 square feet of office space on the middle levels, and 10 condos on the top two levels. The project developers, Michael Ochsner and Chris Lohss, plan to integrate three silos from the grain mill into landscaping features and hopefully keep the “BG Mill” logo for the new building.

Although there has been a long, drawn-out debate over mid-rise buildings changing the character of Bozeman’s small-town charm, Ochsner and Lohss point out that the site, located on the southeast corner of Mendenhall Street and Broadway Avenue, is already surrounded by other existing commercial properties.

While residents are concerned that the Black-Olive project, another mid-rise building proposed for Bozeman, would cast a shadow over Bozeman’s southern historic downtown neighborhoods, the BG Mill project may not cause nearly the same issue.

Positioned between the south end of a neighborhood and the north end of downtown Main Street, the site seems to be better suited for its location where it wouldn’t obstruct views of the Bridger Mountains to the North—a major point in the argument against mid-rise buildings in Bozeman.

The project developers said they haven’t filed an application for the project yet, but plan to do so by next week. Once approved, construction of the BG Mill project is hoped to break ground this summer.

A public meeting will be held at the Bozeman Public Library on April 13 at 7 p.m. to discuss the project and gather feedback from the public.

All Current Proposed Mid-Rise Development Projects for Bozeman.

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Bozeman Becomes Hot Spot For High-Tech Companies


Bozeman Invests Millions in More Parks and Trails

Bozeman Montana Becomes Hot Spot for High Tech Companies

by Hart Real Estate Solutions

The high-tech industry is thriving in Montana, growing at a rate seven times faster than other sectors.

Montana’s high-tech companies are expecting to add roughly 1,000 new jobs this year, paying an average salary of $60,000—more than double the median annual income in Montana.   

The Montana High Tech Business Alliance counted a total of 546 tech companies in Montana as of December 20, 2016. Yet the organization says there are even more companies unaccounted for, as smaller companies may be hiding in remote business parks and second-floor offices without signage.

Much of the attention seems to be focused around the Universities. With Montana State University pumping out more qualified talent each year, as FICO Chief Executive Officer Will Lansing says, “the talent pool in this part of Montana has attracted dozens of leading technology firms.”

High Density of High Growth, High-Tech Companies

He wasn’t kidding either. Here’s a list of some of the most successful high-growth technology companies in Bozeman, Montana.

Ascent Vision, an aerospace technology company based in Bozeman, grew from two people to a team of 50 and made millions within just the first year of operation in 2013. Last year, the company began construction of a new 30,000 sq. ft. facility by Belgrade. It will be interesting to see how this company will grow with the rising demand for sensors in UAVs, counter UAS systems, self-driving cars, and ground based military applications.

Elixiter, a marketing services firm, averaged an astounding 100 percent growth rate year over year, landing on the Inc. 5,000 list of fastest growing companies in 2016. Having such rapid and unanticipated expansion, the company relocated four times in four years, finally settling on the northeast side of Bozeman.

FICO, a data analytics company for credit rating services, plans to add a new location in downtown Bozeman, and hire 50 new employees within the next 18 months. The company employs roughly 3,000 around the world, and is a recognized leader in analytic technology. FICO was ranked #31 among the Top Technology Providers in financial services ​by American Banker and BAI, and was also named to the Analytics 50 by Drexel University and

Foundant Technologies, is a “software-as-a-service” company in Bozeman that develops grant and scholarship management software, was also on the Inc. 5,000 list of fastest growing companies in 2016, but for the third consecutive year in a row. (PFL), while technically located in Livingston, Montana, is close enough to give credit to the Bozeman area. PFL landed on the Inc. 500 list of fastest growing companies for three consecutive years, and appeared on CNBC, Wall Street Journal, and the New York Times for having innovative HR policies. Having established the first website for commercial printing, PFL has made significant progress since it was founded in 1996. It evolved from a traditional print shop into a sophisticated marketing technology company. It’s expecting significant growth in 2017 with its new software, named “Tactile Marketing Automation.”

Quiq, a firm that develops text messaging software for customer service, scored a $6.5 million investment last year—a great start after just being established in October 2015. Company CEO Mike Myer, a former employee of RightNow Technologies before it sold to Oracle for $1.8 billion, says it was an easy decision to choose to start this business in Bozeman. He says “Montana is a great place to recruit up-and-coming people, and not just recruiting, but retention and loyalty.”

Wisetail, a learning management software (LMS) company in Bozeman, is an inspiring entrepreneurial example. Amidst the most recent housing crisis, company founder, Justin Bigart, started the company with the ambition to repay his debts, refusing to consider bankruptcy as an option. His hard work and determination certainly paid off. Wisetail ranked #32 in Outside Magazine’s 100 Best Places to Work in 2016, named one of the 5,000 fastest growing companies in America by Inc., and one of Fortune Magazine’s 50 Best Small Businesses in America.  

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Bozeman Invests Millions in More Parks and Trails


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Bozeman Invests Millions in More Parks and Trails

by Hart Real Estate Solutions

bozeman trails


As Bozeman has grown, The Bozeman Parks and Recreation Department has been taking steps to maintain and enhance our beloved parks and trails. The department currently manages more than 40 parks and 60+ miles of trails in and around Bozeman.

The one thing that the city of Bozeman, Montana takes pride in, above all, is its parks and trails. People come here for the freedom to get lost in the bliss of Montana’s beautiful countryside, while also being just minutes from the heart of a bustling city.

Since the $15 million park bond was approved by voters in 2012, the city spent about $14 million of its funding on projects such as stream remodeling, trail extensions and three new parks that will add 150 acres to the city’s current 500 acres of parks.


Six major park projects are currently underway in Bozeman.


The Story Mill Community Park Project is working on transforming 55 acres adjoining the historic Story Mill on the northeast side Bozeman, an area currently lacking in parks, into both a nature sanctuary and a fun place outdoor recreation, community gatherings, and educational programs.

This new park will be an urban-style wetland, outlined by boardwalks along Bridger Canyon Drive, with a new trail, named Story Mill Spur, added to the trail network. In addition, this project will turn an old boys and girls club into the city’s first community center. 



A New 80-acre Sports Park will be built on the west side of town, by Flanders Mill Road and Baxter Lane. The park will include 12 rectangular fields for sports such as soccer, lacrosse, and ultimate Frisbee, while also having open space, trails, and a playground and a splash pad for the kids. This park is planned to open in 2018.  

A Nine-Acre Addition will be made to the 16-acre Bozeman Pond Park near Gallatin Valley Mall. This extension will include a new off-leash dog park, more trails, picnic areas and a natural playground.

Enhancement will be made to Bozeman Creek through Bogert Park, as part of the city's environmental restoration initiative. The Bozeman Creek Enhancement Committee believes that the Bozeman Creek “is a focal point of our quality of life,” and intends “restore the natural processes for a functioning stream ecosystem.

Two New Trails will be added to connect Bozeman’s trail system to the “M.” Front Street Trail will connect Oak Street Pathway to Story Mill Spur, leading to a 2.1-mile path that will be paved all the way to the famous “M” Trail. The goal of this project is to eliminate the need for hikers and bikers to drive a car just to get out of town. The completion date for this project is set for 2018.

More To Come, as the director of Bozeman Parks and Recreation, Mitch Overton, says there’s another $25 million in park projects underway with contributions from partners like Trust for Public Land, Gallatin Valley Land Trust, the Sports Park Foundation and many others. Seems like a great value for taxpayers!


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