± 5.48-acre development site
Hyalite Engineers put together a preliminary plat for the site that calls for a combination of 62 triplex, duplex, and townhome units that can be marketed as either for- sale or for-rent. Preliminary Plat is expected to be approved in the first quarter of 2023 with Final Plat approval expected in the fourth quarter of 2023.
Mayfly 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.
Click map to enlarge.
|Location||Northeast Corner of Laurel Parkway & Fallon Street, Bozeman, Montana 59718|
|Site Size||4.48 +/- Acres|
|Units||62 Total - 32 duplexes, 18 triplexes, 12 townhomes|
|Zoning||Residential High-Density District (R-4)|
|Entitlement Status||Coming Soon|
|Utilities||City of Bozeman Water & Sewer|
- 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