THE PROJECT

The Buffalo Run project is a twenty-acre site located in the Southwest corridor contiguous to the City of Bozeman. The site has been Annexed and Re-Zoned into the City of Bozeman. The Sponsor team is currently overseeing the remaining approvals for Site Plan and is anticipated to be fully approved in Early Winter 2022. Upon Site Plan approvals, on-site and off-site infrastructure will begin followed by vertical development. The Sponsor team anticipates the first buildings to be delivered in late Early Fall 2022. The project will deliver 237 new multifamily units to one of the hottest markets in the country.

The land was originally purchased in late 2019 with the intent to build lower density products, however, the vision of the project pivoted in response to the City of Bozeman’s need and desire for housing products. The 2019 City of Bozeman Community Housing Needs Assessment study shows that between 5,400 to 6,340 housing units are needed over the next five years to address the current housing shortfall for residents and the workforce and to keep up with jobs growth. The City of Bozeman currently has a less than 1% vacancy.

OVERVIEW

Nationally, people recognize Bozeman, Montana as one of the best places to live in the country and continue to move to the area in staggering numbers. With the Bridger Mountain range as a backdrop, blue-ribbon fishing, world-class skiing, and nationally recognized climbing routes, it’s easy to see why. Bozeman is the fastest growing city of its size in the U.S. Its population is increasing by more than 3.6% per year, more than four times the growth rate of the state of Montana.

According to the Prospera 2019 Economic Profile, the 20-29 age group currently makes up a significant (31.4%) percentage of Bozeman’s population, likely due to Montana State University, the high number of service industry jobs available, and an increasing number of tech companies and start-ups calling Bozeman home. Projections show that the median age in Bozeman is expected to shift as the 65 and overpopulation is expected to increase by 585% between 2000-2060. This trend follows the area’s increasing popularity as a retirement destination.

SITE PLAN

PROJECT STATS

  • 237 Units

  • Ample Parking: 592 Covered and Surface parking spaces

  • Views to Bridgers and Spanish Peaks

  • Easy commute to Oracle campus and Downtown

  • First Resort Style project to be developed in Bozeman featuring:

    • Central green space terminating at 10-acre City of Bozeman Park and Playground

    • Community Center with Fitness and Locker Rooms

    • Two resort style oversized spas

    • Outdoor Yoga area

    • Gourmet Outdoor Demonstration Kitchen

    • Multiple Grill/Covered Entertaining areas + Firepits

    • Centrally featured pond surrounded by community performance stage for concerts and gatherings

    • Community Garden