Phase Two
± 84.9-acre development site
The Phase II parcel is intended to be sold off as multiple different sites to be built as a mixed-use development. Master-planned by Cushing Terrell, the agrarian-themed community will encompass a variety of landscapes with green space interwoven throughout residential units, retail, restaurants, and offices space. The yield study for Phase II, developed by KTGy calls for ± 1,100 residential units, 100,000+ square feet of commercial space, and ± 15 acres of parks and open space.
The residential units are intended to be a mix of multifamily, attached single-family, and detached single-family. at the core of Phase II is the commercial hub, centered around a future vertical greenhouse and recreation center intended to serve the entire development. The yield study serves as a loose guide for how the development could look once built rather than serving as a prescriptive plan of what must be built and where.
Phase II 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.
Property Details:
Location | 8553 Huffine Lane, Bozeman, Montana 59718 |
Site Size | 84.9 +/- Acres |
Units | TBD |
Zoning | Community Business District-Mixed (B-2M), Residential Emphasis Mixed-Use District (REMU) |
Entitlement Status | Coming Soon |
Mill Levy | 568.000 |
Utilities | City of Bozeman Water & Sewer |
Plan Area 1:
Size | 4.4 Acres |
Zoning | REMU & B-2M |
Use | Detached & Attached Single-Family |
Units | 43 |
Density | 12 Units Per Acre |
Status | Conceptual Yield Study |
Plan Area 2:
Size | 5.0 Acres |
Zoning | B-2M |
Use | Attached Single-Family |
Units | 52 |
Density | 12 Units Per Acre |
Status | Conceptual Yield Study |
Plan Area 4:
Size | 6.8 Acres |
Zoning | B-2M |
Use | Multifamily |
Units | 190 |
Density | 28 Units Per Acre |
Status | Conceptual Yield Study |
Plan Area 8:
Size | 4.6 Acres |
Zoning | B-2M |
Use | Attached Single-Family |
Units | 132 |
Density | 29 Units Per Acre |
Status | Conceptual Yield Study |
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
Eric Ladd
Founder, CEO
Outlaw Realty
Licensed in Montana
(406) 570-0639
Darren Streets
Real Estate Sales
Outlaw Realty
Licensed in Montana
(406) 570-4862
Eric Ladd
Founder, CEO | Outlaw Realty
Licensed in Montana
(406) 570-0639
Darren Streets
Real Estate Sales | Outlaw Realty
Licensed in Montana
(406) 570-4862