Fallon Lot 1
± 1.40-acre development site
Fallon Lot 1 is fully platted and SMA Architecture + Design has put together two conceptual plans that both call for 33 residential units: (1) three stories with 71 parking spaces, and (2) four stories with 75 parking spaces and 1,000 square feet of retail. The plans call for a mix of one bedroom + den, two-bedroom, and three-bedroom units that have been designed to be marketed as either for-rent or for-sale.
Fallon Lot 1 is located within the greater ± 106-acre Urban + Farm master planned community that will feature a mix of residential and commercial development. Bozeman has experienced over 45% population growth since 2010, with no signs of slowing down after nearly a 10% growth in population from 2021 to 2022.
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Line Property Information:
| Location | Southeast Corner of Laurel Parkway & Fallon Street, Bozeman, Montana 59718 |
| Site Size | 1.4 +/- Acres |
| Units | 33 Residential Units |
| Zoning | Community Business District-Mixed (B-2M) |
| Entitlement Status | Coming Soon |
| Mill Levy | 568.000 |
| Utilities | City of Bozeman Water & Sewer |
Fallon Lot 1 – Option 1:
| Buildings | 1 |
| Stories | 3 |
| Parking | 71 total spaces, 42 carports, 29 surface spaces |
| Parking Ratio | 2.2 spaces per unit |
| Retail SQFT | None |
Fallon Lot 1 – Option 2:
| Buildings | 1 |
| Stories | 4 |
| Parking | 75 total spaces, 33 detached garages, 28 surface spaces, 14 tuck-under garages |
| Parking Ratio | 2.2 spaces per unit |
| Retail SQFT | 1,000 |
Photo Gallery
Development Highlights
- Strong multifamily trends – 9.6% year-over-year
- Rent growth and a 2.2% vacancy as of the fourth quarter 2022
- High new build rents – $2,429 average per unit and $2.42 averatge rent per square foot as of January 2023
- Resilient housing market – 18.5% year-over-year condominium sale price growth as of the fourth quarter 2022
- High-cost housing prices – $582,919 average condominium sale price as of the fourth quarter of 2022
- 17,740 people moved to Bozeman since 2010 – 45.8% population growth
- Population continues to grow with 9.8% year-over-year population growth
- 46% future 10-year job growth
- $94,855 average household income in Bozeman
- 68% of people in Bozeman have a college degree
- Bozeman ranked #1 out of 543 micropolitan statistcal areas since 2018
- #3 fastest growing micropolitan in the country
- Montana was the #1 moved-to-state during the pandemic
- #3 state with the best economy
Contact
(406) 995-2404