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Bozeman Airport Expands for Explosive Traffic Growth

by Hart Real Estate Solutions

As you may have notice, the Bozeman area has been growing exponentially with each passing year, and the local airport is certainly feeling it. Our Bozeman Yellowstone International Airport just broke its own traffic records for the seventh year in a row. While the U.S Census Bureau estimated there was only 100,000 residents living in Gallatin County in 2015, the airport handled a staggering 1.1 million passengers the following year. That’s 10 times more passengers moving through the airport than there is people living in our area! 

To accommodate for the growing traffic, the airport is working on adding another runway and considering to add some new gates. American Airlines also just announced that starting this spring, they will be making non-stop daily, seasonal flights to and from Bozeman and Dallas-Fort Worth. The airline will have a summer service running from June 2 to October, and a winter service running from December 15 to April.

With Bozeman being a college town, and Big Sky and The Yellowstone National Park being major tourist attractions, it’s no surprise that the airport’s been so busy. College students fly home during the holidays, Yellowstone National Park has tourists flying in from all over the world in summer, and our world-class ski resorts attract skiers in the winter. These local attractions keep the airport busy all year long.

Good business for the airport is also good business for our community. With an expanding airport, it will draw in more potential customers for our local businesses, add jobs and revenue to our community, and possibly lower flight costs from Bozeman to global destinations.


Related Articles:

Development Projects In Downtown Bozeman

Business Success In Bozeman

Job Growth In Gallatin County


Read more about this topic:

Bozeman airport again breaks record for passenger numbers

American Airlines enters Montana market, offers seasonal service to Bozeman

Mid-Rise Buildings to Doom Bozeman's Small-Town Charm?

by Hart Real Estate Solutions

 

There has been rising controversy in downtown Bozeman over development plans for mid-rise buildings in the heart of the city. City commissioners will soon make the decision whether to approve developer Andy Holloran’s proposal for his Black-Olive project, which will transform the south-east corner of Black and Olive Avenue into a three-story building with 56 apartments. 

Black-Olive Project(3-story building on black-olive avenue as of December 28, 2016 that the new apartment building is planned to replace.)

With the Element Hotel now built, the 5-West building already standing, and the Clark Hotel’s expansion underway, downtown residents are concerned that the Black Olive proposal is the breaking point that ushers “the final doom of Bozeman’s small-town charm.” Most members of the “Save Bozeman” effort are not entirely against development, but what they want is “balanced growth that benefits everybody, and not just developers.”


 

5 West Downtown Development

(5 West Project on Mendenhall Street under construction as of December 28, 2016.)

Several concerned residents have responded with the “Save Bozeman” effort. They made a Facebook page to coordinate their efforts and inform other residents about issues facing the community, and you might have noticed their yellow yard signs popping up around downtown neighborhoods. Stewart Mitchell, one of several coordinators behind the “Save Bozeman” effort, says their goal is to draw more members of the community into the city’s planning process.

What About The Housing Shortage?


To counter the opposition, there are some benefits of denser developments that may make the case for the Black Olive project. People want our Bozeman lifestyle, which can be credited for much of the county’s explosive growth in recent years. Unfortunately, with rising demand, comes rising prices. Housing inventory is being stripped away, and prices are climbing at such a rate that it may finally slow our city’s growth.

Having these apartment buildings spring up downtown may help to address our current housing shortage issue. More apartments will loosen up the market for renters, and keep prices within a reasonable reach. Even luxury, higher-end apartments may improve housing affordability. When luxury options are limited, wealthier renters may have to settle for mid-market options, and outbid lower-income residents who can’t compete. By meeting the demand for high-end housing, affordable housing would be left alone and made available for families who truly need them.

Another proposition to be made is that denser development may help preserve Montana’s countryside. Even if we build a financial wall around Bozeman, development would likely spread to outlying areas, encroaching further into the untouched territory that we value about Montana. “Building” up may be the alternative to “building out” with residential neighborhoods, like we’re seeing in the development of Bozeman’s west side.

State Your Opinion


There are many arguments to made on either side of this issue. Mid-rise developments will transform the city’s core, and may alter the course of the city going forward. The community deserves a fair debate over this matter. For those that are concerned and want to be more involved with the community, be sure to attend the city’s Community Forums held at the City Hall to state your opinions.


Related Article:

Development Projects In Downtown Bozeman


Source:

Saving Bozeman: There’s a generational divide on development in the heart of the city

Business Success In Bozeman

by Hart Real Estate Solutions

It is exciting to see so many successful businesses in our community. For the third consecutive year in a row, The Partners Group has been named among the top 75 Best Places to Work in Insurance nationwide. This company has a number of offices across the Northwest, including one here in Bozeman, Montana.  It is great to see so many admired companies laying foundations in Bozeman.

Along with the Partners Group,  RightNow Technologies (bought by Oracle), Elixiter, Wisetail, Zoot Enterpises, Simms, and a number of other large companies are growing in the area.  Our economy is strong. These local businesses are contributing to Montana’s superior economic performance.


With such growth of jobs and businesses in our city, Gallatin County’s unemployment rate dropped to 2.3% in August 2016, the lowest unemployment rate in Montana. 


In 2015, Montana lead the nation in entrepreneurship, with its number of business openings accounting for 7.4% of the total existing business.

There is some mighty potential for our small town. Apparently, Montana isn’t just about being a fun and beautiful place to live in, it’s a great place to start a career as well. With the real estate market booming, it’s a great time to buy a house here in Southwest Montana if you’ve been considering it. See our listings, or contact us today and together we’ll find that perfect home you’ve been looking for.

September 2016 Real Estate Market Report

by Hart Real Estate Solutions

The Gallatin County real estate market is still growing strong. According to the Gallatin Association of REALTORS®, both average sales volume and total sale price has shown significant growth through September 2015 to September this year.

The increase in average real estate price from $358,997 last year to $460,957 this year, estimates an astounding 36% housing appreciation. Average sales volume has also seen substantial growth by 30% in this area.

These numbers demonstrate positive implications that the Gallatin area is steadily climbing in the real estate market. As the GAR President stated, “our local market is in strong shape.”

The statistics comparison between September 2016 and 2015 are as follows:

Residential Sales-Units:

  • September 2015: 226
  • September 2016: 217

Residential Sales- Average Sales Price

  • September 2015: $339,194
  • September 2016: $460,957

Residential Sales- Total Sales Volume

  • September 2015: $76,657,952
  • September 2016: $100,027,807 

Bozeman Montana Commissioners Approve City Budget

by Hart Real Estate Solutions


Commissioners have been debating the city’s budget, discussing where spending needs to increase and by how much. Bozeman Montana is one of the fastest growing towns in the nation, so commissioners did not consider lowering the budget, but rather trimming back on possible spending increases.

Commissioners had debated several budgets, with City Manager’s Chris Kukulski’s budget dominating the conversation. Kukulski called for major investments in infrastructure, while also addressing issues created by Bozeman’s population and economic growth. If adopted in total, this budget would have increased a typical Bozeman resident’s city fees by 5.5 percent.

In Kukulski’s budget, the average Bozeman resident would see their taxes increase by $114 per year. Infrastructure spending would take $72 of the yearly tax increase per resident. The fees would fund deferred maintenance as well as street creation and maintenance in new Bozeman neighborhoods.

An alternative budget reduced the increase to $80 per year, representing a 3.9% total increase. However, this plan required cuts in both planning studies and affordable housing efforts, both topics that have been high on the Bozeman’s list of priorities.

The city ultimately decided to approve a budget closer to Kukulski’s budget, but with additional cuts, representing a middle area between the two proposed budgets. They city approved the new budget with a 3-2 vote. Bozeman Commissioners passed on several new hires and a few planning initiatives to cut an additional half million from the budget. They did add some spending in a few places, including the Bozeman Public Library’s new mobile library, the bookmobile.

The approved budget will add $92 a year to a Bozeman resident’s lifestyle. Total yearly costs per resident have increased to $1,148 per year. The 4.5% increase fell between Kukulski’s budget (5.5 percent increase) and the alternative budget (3.9 percent increase). Homeowners can expect to see a $1.32 increase in their property taxes.

Sources: http://www.bozemandailychronicle.com/news/city/bozeman-budget-passes-on-a-split-vote-as-commissioners-spar/article_fe577606-0987-5ec5-9127-3c4303a0dd65.html

http://www.bozemandailychronicle.com/news/city/bozeman-city-commission-debating-budget-tax-increases-monday-night/article_b337d1b8-0451-53ce-b795-c93180feddb5.html

http://www.bozemandailychronicle.com/blogs/city/getting-a-handle-on-bozeman-s-budget/article_8ebe8f60-6dde-56e8-929d-8756366b8241.html

Bozeman, Belgrade and Gallatin County to Coordinate Land Planning Efforts

by Hart Real Estate Solutions

The Gallatin County Commissioners voted unanimously to approve a new committee designed to improve coordination between Bozeman, Belgrade and Gallatin County planners. The Bozeman City Commission and the Belgrade City Council are planning on approving similar measures in the coming weeks.

The new committee has been approved to help the whole valley better address the rapid growth seen in the area in the past few years. Both Bozeman and Belgrade real estate markets have been extremely fast paced and new residents come almost daily to Bozeman or Belgrade.

Currently, incorporated cities like Bozeman and Belgrade are responsible for planning and development within their own borders. The Gallatin County generally takes care of planning and development in unincorporated areas of the county. Now, the new committee will help direct planning efforts between the cities and the county, helping keep the overall growth organized and positive.

The idea first took form in 2014, from a study that suggested an overarching committee coupled with frequently updated formal growth plans would be necessary to grow effectively. Before this, land use planning had not been formally addressed between the three governments.

The committee will help the governments share information and discuss planning issues before they become bigger problems. The committee will meet a few times a year and will serve in an advisory role to the three governments.

 

Source: http://www.bozemandailychronicle.com/news/city/county-endorses-planning-coordination-with-bozeman-belgrade/article_b1eb8e5a-1eaa-5868-8a52-3465411f6fbe.html

Bozeman Planning for Growth in 2016

by Hart Real Estate Solutions

Bozeman officials made it clear they are planning for growth in 2016 when they outlined their goals and hope for the town for the coming year. With the fastest growing economy in Montana and part of the fastest growing county in the state, officials will need to continue working to stay ahead of growth.

The city wants to focus on improving infrastructure, streets and transportation and affordable housing. Street maintenance and traffic have both been impacted by Bozeman’s booming housing market—a market that has driven up home values in the area. As Bozeman continues to grow, officials will need to continue staying ahead of the curve on city growth and planning.

To do this, commissioners recently approved hiring an Oregon consultant to study and improve Bozeman’s strategic planning effort. HDR engineering will look at policies, land use planning, infrastructure and budgeting to develop a plan that will keep Bozeman on its positive track. The consultant will look for vague and contradictory planning strategies and look to improve them.

Leaders have also started to tackle plans to put a plan for a new Law and Justice Center on the November ballot. Ideally, Bozeman wants to make the new center more affordable by using the building for both Bozeman and Gallatin County legal matters. Right now, officials estimate that the building will cost between 50 and 80 million. To narrow the estimate by November to give voters a better sense of what they may or may not be approving, Bozeman has hired a contractor to provide a plan and price quote by July 1st.

Bozeman officials have done well to stay ahead of Bozeman’s growth. In depth planning, coupled with improving plans already in place, should help maintain Bozeman’s beautiful landscape and culture amidst its growth.

 

 

Sources: http://www.abcfoxmontana.com/story/31298368/bozeman-sets-goals-for-new-year

 http://www.bozemandailychronicle.com/news/city/split-bozeman-commission-approves-k-strategic-planning-effort/article_6a350d69-4e36-57ad-839b-c6c53a649674.html/#utm_source=bozemandailychronicle.com&utm_campaign=related-by-section&utm_medium=direct&utm_term=split%20bozeman%20commission%20approves%20%24124k%20strategic%20planning%20effort

http://www.bozemandailychronicle.com/news/city/bozeman-gallatin-county-officials-to-hire-justice-center-contractor/article_c32249cf-8ae4-552f-90c6-7064b65f07f0.html

Bozeman Looks to Expand Cottonwood, Durston Intersection

by Hart Real Estate Solutions

In early February, the Bozeman City Commission focused their efforts towards road expansion and reconstruction on the west side of town. With Bozeman's growth rate in the top ten nationally, road expansions and construction will continue to be needed. The city wants to expand the intersection of Cottonwood and Durston Road to better address the growth in the area. Bozeman has and will continue to find additional funding for city streets so long as growth continues.

Ideally, the commission would like to expand Cottonwood to four lanes and widen Durston to three lanes. The plan would also add a new light on the intersection of Cottonwood and Babcock. The commission would install roundabouts at Oak and Baxter, and Flanders Mill and Ferguson.

Bozeman’s growth, particularly on the west side, have increased traffic in the area. With the fastest growing economy in Montana, Bozeman continues to stay on the national radar. Its been awarded as one of the nation’s most liveable towns, a top worldwide destination and a top college town in the past 2 years. School districts continue to break enrollment records, Expanding neighborhoods like Laurel Glen and Valley West have attracted more residents to the west side of Bozeman, putting more strain on the nearby roads. More commercial permits have also been given on the west side of Bozeman, increasing traffic as well.

Durston and Cottonwood improvements would cost an estimated 30 million dollars and would be broken into several projects over the coming years.

 

Source: http://www.nbcmontana.com/news/Bozeman-seeks-expansion-of-Cottonwood-Durston/37762862

 

Land off Stucky Road Considered for Annexation

by Tim Hart

Bozeman City Commissioners will vote next Monday on whether to annex a piece of land off Stucky Road in order to zone it for apartment style residences. The commission has seen several bids to annex additional land into the city in the last year. Bozeman continues to find ways to add additional home inventory to keep home values reasonable.

The land off Stucky is currently set for agricultural use and nearby farms are concerned about adding more residential lots on high quality, useable soil. Both farmers and developers made their pleas to the City Zoning Commission and though the zoning commission voted 2-1 against rezoning the parcel, the decision ultimately rests with City Commisioners.

Bozeman continues to search for land and strategies to help keep the real estate in the Gallatin Valley affordable. The city has looked at narrowing lots and has given a high number of building permits to increase inventory. Bozeman will need to strike a healthy balance between keeping prices reasonable and growing in a healthy, planned out manner.

 

Source: http://www.bozemandailychronicle.com/news/city/bozeman-commission-to-consider-stucky-road-annexation/article_5cd77da9-11f6-5bfc-93c3-f206be50835e.html

 

Bozeman Armory to Become New Downtown Hotel

by Tim Hart

A new hotel will be coming to Bozeman—and no—it won’t be on North 19th. No, this hotel, called the Etha, will be right in downtown Bozeman and will be moving into (and on top of) the old Armory Building on Mendenhall.

Investors hope the hotel can become more of a buzzing downtown hub, rather than a simple hotel. The hotel will have 8 stories, 102 rooms and include a 10,000 square foot ballroom for special events. The hotel will cater to the luxury market, aiming to provide travelers with all the expected perks and amenities. Building plans also called for a gastro-style pub/restaurant, which would help make the hotel a destination location for locals, as well as travelers.

Plans had initially stalled on the building, due to the bid knocking out a large chunk of the investors’ budget. The project in total will cost more than 22 million dollars.

Over the last five months, investors have worked through issues regarding the cost and permitting of the building and are ready to move forward. This winter, the hotel will fund the interior demolition of the building and they will then start building upwards in the spring. The Etha should be open by mid 2016, assuming all goes to plan.

A large real estate investment such as the Etha Hotel highlights the growing consumer and investor confidence in Bozeman. As Bozeman continues to recover from the 2008 recession, other investments similar to the Etha will not be unexpected.

 

Source: http://www.bozemandailychronicle.com/news/city/construction-to-begin-on-downtown-boutique-hotel-at-former-bozeman/article_99ecf030-74fd-11e4-9a25-3b43c279e5c0.html

http://www.bozemandailychronicle.com/news/economy/downtown-boutique-hotel-stalled-developers-remain-optimistic/article_2a0f75f6-f67e-11e3-84b1-001a4bcf887a.html

Displaying blog entries 1-10 of 13

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