Bozeman Montana Real Estate Information Archive

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Displaying blog entries 1-10 of 149

Bozeman Montana Company Wins Award from US Department of Commerce

by Hart Real Estate Solutions

The U.S. Department of Commerce rewards companies across the nation for making a substantial contribution to the expansion of US exports.

The “E” award, created by President John F. Kennedy, is the highest recognition any U.S. entity can receive from the department.  

Simms Fishing Products from Bozeman, Montana received the award in mid-May, showing the company’s growth and its consistency in delivering top quality goods.

The awardees this year contributed $2.23 trillion dollars worth of goods and services in 2015. These companies also provided 11.5 million jobs that were supported by exports.

Bozeman becomes more worldly each and every day. Business is not limited to the valley, to Montana or even the United States. Businesses continue to be attracted to the area for its unique culture and outdoor access. As more and more companies find Bozeman attractive, Bozeman can expect more jobs, more business and of course, more residents and homes in Bozeman.

 

Source: http://www.nbcmontana.com/news/bozeman-company-receives-national-award/39570200

Old Bozeman K- Mart to Be Demolished for New Development

by Hart Real Estate Solutions

The building that housed the Kmart in Bozeman will be demolished. Bozeman’s planning office approved a demolition permit this week as city officials continue to try to attract new development, both commercial and residential, in Bozeman’s Midtown district.

Kmart closed in Bozeman in 2014 due to financial struggles from the national brand. The land under the building was rezoned in early May by the Bozeman City Commission in an attempt to spur more business development in the area.

The demolition permit has approved tearing the building down to its concrete slab. Workers will remove the building material and then fence the remaining site until future development occurs. As of yet, no official development plans have been created.

Bozeman’s zoning changes along 7th avenue has already spurred reaction from property owners. A new business will be moving to Midtown, while other property owners are removing buildings with new zoning laws in place. Bozeman’s Midtown will undergo a lot of change in the coming years as the city works on developing and improving the area.

 

Source: http://www.bozemandailychronicle.com/news/city/demolition-permit-approved-for-old-bozeman-kmart/article_a24acaaf-b090-50a6-85d7-f1f072cced18.html

Study Suggests Bozeman Bring Back Paid Parking

by Hart Real Estate Solutions

A studied performed by Oregon based Rick Williams Consulting suggested that Bozeman Montana update its plans for managing parking in its downtown district. Parking demand has increased in Downtown Bozeman, the city’s historic district, due to new development and new visitor’s being attracted to the area.

Bozeman will need to develop a strategy for parking along Main Street and the rest of downtown if it wants to keep the area a convenient place to eat, shop and find entertainment.

As Bozeman grows, existing parking lots might be used for infill development. A precedent has already been set in Midtown Bozeman to favor commercial and residential real estate development over maintaining parking spaces. Bozeman Commissioners approved allowing businesses to reduce parking in Midtown, if they increased bike parking and public transit stops.  The city has hoped to spur commercial and residential growth in the area. Cutting on parking would allow for bigger, denser buildings to be built.

For Main Street and Downtown Bozeman, the study suggests removing the 2 hour free parking window that is enforced by parking officers, and replacing the system with parking meters. Bozeman had parking meters in the 1980's. The study suggested that adding meters would prevent downtown parkers from staking out a spot for hours on end and would keep people moving quickly, within a set period of time. Meters would also make enforcing parking regulations much easier.

Whether Bozeman decides to move ahead with parking meters is yet to be seen. They would certainly do a lot to help fundraise for the city. As Bozeman grows, staying open to ideas that will keep the city ahead of the curve will always be appreciated and a necessary part of the pains and gains of Bozeman’s recent boom.

 

 

Sources: http://www.bozemandailychronicle.com/news/city/study-suggests-bozeman-should-consider-paid-downtown-parking/article_a4871d8d-9ec0-5afe-8ebe-feef6ad0c2d4.html

http://www.kxlf.com/story/31874234/parking-restrictions-looked-at-by-bozeman-commissioners

 

 

Bozeman Will Pay 7.5 Million to Settle Landfill Suit

by Hart Real Estate Solutions

A settlement has been reached between the City of Bozeman and disgruntled residents in Bridger Creek Phase 3. The lawsuit, filed by 22 property owners in the neighborhood, came in reaction to the discovery of gases leaking into homes from the nearby landfill.

Bozeman City Commissioners approved to settle with the home owners for $7.5 million. The settlement will also wipe any liability from the City of Bozeman, minus a few outstanding lawsuits also affiliated with the landfill leak. Taxpayers will pay $750,000 for the case, while 2.5 million will be paid by Golf Course Partners (developers of nearby Bridger Creek Golf Course) and its engineering firm Morrison and Maierle.

The remainder of the bill will be paid by Bozeman’s insurance. This settlement also allowed a dispute between the City of Bozeman and its insurance holder to end as well.

So far, Bozeman had spent 2.6 million on expenses related to the landfill lawsuit. They plan on spending $300,000 a year to monitor and clean up the area as well. From the City’s perspective, paying $7.5 million up front was a good business decision for Bozeman moving forward.

The neighborhood, constructed in 1996, serves as a reminder to home owners to fully understand any property they wish to purchase. Even if a home owner believes they know everything about their home, unforeseen contingencies may always change a property’s value and safety. Buying a home is complicated—doing the proper due diligence can bring much more peace of mind in real estate.

 

Source: http://www.nbcmontana.com/news/Bozeman-City-Commission-approves-Story-Mill-landfill-settlement/39463998

http://www.bozemandailychronicle.com/news/city/m-settlement-proposed-in-bozeman-landfill-lawsuits/article_22f48daa-7b73-501f-856c-53e255796314.html

 

NASA Awards Funding to 4 Bozeman Businesses

by Hart Real Estate Solutions

NASA offered funding to four businesses in Bozeman, Montana. The companies have been contracted to research and commercialize technology that can support future space missions.

ADvR, Bridger Photonics, Global Technology Enterprises and Resonon all received six month contracts up to $125,000. Their proposals included new laser technologies, tools to increase head conduction and instruments that better measure the Moon’s effect on Earth. Bozeman’s laser technology already has a great pedigree and has lead to a portion of the technological growth in the area. Having businesses win such awards might lead to future expansions and more jobs, all  of which affect Bozeman’s booming real estate market.

Of the 1,000 applications received, only 341 proposals were selected by NASA. Having four proposals awarded to a small town in Montana was another great step for Bozeman’s economic growth.

 

Source: http://www.bozemandailychronicle.com/news/economy/bozeman-companies-win-nasa-funding/article_12a65d02-e577-54fd-bd64-9fdd36da6b73.html

Bozeman Floodplain Maps Redrawn

by Hart Real Estate Solutions

The City of Bozeman and the Gallatin County have prepared an updated floodplain map for the greater Bozeman area. The current map was produced almost 30 years ago, so county and city planners want to remap flood areas surrounding Bozeman Creek and the West Gallatin River. County planners want to make sure that all homes in the area are properly prepared for a potential flood and would have the proper insurance in place.

As many riverside residents might be able to tell you, many homes along Bozeman Creek require flood insurance. The new draft will add about 140 additional buildings to the floodplain while removing 108 other buildings. Homes that have been added to the floodplain could see additional costs like flood insurance get added to their bills. Having a home in the floodplain could also affect the property’s value. Currently, the new floodplain map is only a draft. Officials want to have it finalized in the next 2 years.

Safety is always the paramount goal when City Officials look to update or renovate real estate regulations. Updating Bozeman’s floodplain map will help validate that all Bozemanites are living in safe homes and that no one is risking house and home for a closer river lot.

 

Source: http://www.abcfoxmontana.com/story/31642274/bozeman-redraws-flood-maps-could-cost-property-owners

http://www.nbcmontana.com/news/bozeman-gallatin-co-work-on-floodplain-map-update/38887916

 

Gallatin County Multi-Family Home Sales: May Real Estate Market Report

by Hart Real Estate Solutions

This month, we will compare condo and townhome sales in the Gallatin County for Quarter 1 of 2016 to condo and townhome sales in Q1 2015. Here are a few stats:

  • Multi-family home sales increased by 15.83% (120 sold in 2015, 139 sold in 2016)
  • Dollar Volume increased by 5.96% ($33,245,180 in Quarter 1, 2015; $35,227,688 in Quarter 1, 2016)
  • Median sale price increased by 12.89% ($194,000 in 2015, $219,000 in 2016)
  • Multi-family homes spent 44.62% longer time on the market in 2016 (65 Days on market 2015, 94 Days on market in 2016)

Summary: Multi-family home sales continue to increase. As more multi-family properties sell, they are also selling at higher prices. The trend suggests that multi-family homes will continue to see value appreciation in 2016. It should be noted that they have spent more time on the market in exchange for higher listing prices. Feel free to look at Q1 2015 numbers compared to Q1 2014 to see an even bigger picture. The Gallatin County real estate market continues to grow and values continue to rise.

Bozeman Updates Zoning for Midtown Revitalization

by Hart Real Estate Solutions

The Bozeman City Commission approved updates to Bozeman’s Midtown in the hopes of sparking redevelopment and increased activity to the area. Most local Bozemanites will know Midtown as commercial district on North 7th Avenue or as the North 7th Corridor.

Commissioners will use two new zoning designations: R-5, or Residential High Density Mixed District; and B-2M, or Community Business Mixed District. The new designations will allow property owners on North 7th to build denser, higher buildings that can mix both residential and commercial aspects.

Commissioners believe the zoning change will help foster investment in taller, walk friendly, urban style projects. Many expect a “commercial ground floor” so to speak, with apartments and condos on any additional stories.

The zoning changes will help eliminate the sprawl at Bozeman’s edges while increasing the concentration of customers who could both shop at Midtown and Downtown. A new business, The Midtown Tavern, has already started construction on 7th Avenue. Street workers will work with business owners to replace lights and expand the space between the walkways and streets in the next three years.

Bozeman continues to grow. But as it grows, it is nice to see the city focus on revitalizing and redeveloping areas within Bozeman, maintaining the overall quality that continues to attract people to this lovely neck of the woods.

 

Source: http://www.bozemandailychronicle.com/news/city/bozeman-adopts-denser-midtown-zoning-in-hopes-of-spurring-redevelopment/article_b470078f-0042-5492-801a-c2c80bc50564.html

http://www.kbzk.com/story/31700528/zoning-changes-approved-for-midtown-district

http://www.nbcmontana.com/news/Bozeman-business-owner-rallies-behind-Midtown-revitalization/38977106

 

RECENT UPDATE 5/3/16: A few blocks of a neighborhood bordering Midtown will be up for rezoning consideration. Mayor Carson Taylor, previously siding with removing several areas from a rezoning proposal, wants more time to consider all available options. The area south of Lamme Street, running along 8th Avenue was designated R-5, promoting small scale businesses and walkable neighborhoods. Currently, the area is zoned R-4, which normally leads to apartment style construction. The city will now reconsider between zoning the area R-4 or R-5.

Source: http://www.bozemandailychronicle.com/news/city/bozeman-commission-to-reconsider-portion-of-north-th-zoning-decision/article_e0250268-72d6-5ef5-81f8-c8c975bcbeba.html

Montana State helps Bozeman Update Historic Home List

by Hart Real Estate Solutions

Montana State University architecture students helped survey Bozeman’s historic district and Neighborhood Conservation Overlay District, inputting and updating the city’s historic homes in the area.  Students looked at over 500 homes and structures nearby campus and then logged their findings to help Bozeman determine what changes, if any, they will make to Bozeman’s historic district regulations.

Currently, the historic district and the Neighborhood Conservation Overlay District both require residents to file for certificates of appropriateness when renovating their home, particularly its exterior. Rising home prices, a booming economy and bureaucratic slow down have lead City Commissioners to OK plans to revise the regulations.

In order for Bozeman officials to improve its historic districts, they first needed to update Bozeman’s inventory of historic homes (a list that had not been updated since 1984) to better understand the full scope of the district. Budget constraints had limited Bozeman’s ability to complete the survey, but with the help of Montana State University, the list will be updated in a relatively short time. 

In early April, MSU students worked in pairs to gather basic architectural characteristics of downtown homes to determine their historical significance. The project helped these students become familiar with popular Bozeman home styles while completing some much needed busy work for Bozeman.  By logging their findings into Bozeman’s historic home database, MSU and the city hope to eventually log every historic home in Bozeman’s historic districts. Montana State University plans to repeat the project until all the homes have been logged into Bozeman’s database.

 

Source: http://www.montana.edu/news/16076/msu-architecture-students-and-faculty-assist-city-of-bozeman-by-surveying-hundreds-of-downtown-homes

Northwestern Energy and Bozeman Green Light Solar Project

by Hart Real Estate Solutions

Bozeman will begin providing solar power to residents on the grid, thanks to an agreement between the city, Northwestern Energy and a local solar panel company in Bozeman. Ideally, the project will help pave the way for additional solar projects, helping lower utility costs in Bozeman for all residents.

Bozeman will donate land along Frontage Road between Bozeman and Belgrade for the new solar project. Northwestern Energy will invest up to $1 Million for the project, which they will use to research the advantages and pitfalls of potential future projects. As the project is primarily research based, Northwestern customers will not see any increases to their bills.

The project will create approximately 1,000 kilowatts of energy a year, or enough to power 12 homes for an entire year. Whether the costs associated with harnessing solar power pay off the later benefits will be determined by Northwestern over the next few years.

The project is to be installed in June 2016 and should be operational by October 2016.

 

Source: http://www.nbcmontana.com/news/northwestern-teams-up-with-bozeman-for-solar-project/39094588

Displaying blog entries 1-10 of 149

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