The real estate market in Bozeman, Montana is booming! While this boom started prior to the pandemic, the new ability for many professionals to work from anywhere has been fueling the migration of many big city dwellers to smaller cities in search of a lifestyle change. Bozeman, Montana has been a popular destination as it offers convenient access to world-class skiing, hiking, biking, fly fishing, a great local art scene, and a friendly community. Those seeking a better work-life balance or more space can certainly find it in Bozeman.
As a result, Bozeman has become one of the fastest growing cities in the country. Like many other U.S. markets, the supply has not been able to keep pace with the demand, but Bozeman is unique in that the increased demand has revealed a severe shortage of higher-density multifamily housing. For years, Bozeman’s market has been defined by large, custom single family homes. Now, those seeking to move to Bozeman need housing alternatives. The need for multifamily housing is great and presents developers with a tremendous opportunity to help support the influx of new residents.
KEPHART is excited to be part of the solution and has partnered with local Bozeman developer, BlackRidge Companies to design Graft Street Apartments. This 195-unit garden apartment community, designed for families and young professionals, is in close proximity to Montana State University. The units are spacious, with ample room to accommodate a renter’s need to live and work, including several carriage units that were included to maximize the site. The community is amenitized with a clubhouse, fitness center, spa, barbecue area, fire pit, and lawn games. Construction is expected to be completed by September 2023. In addition to Graff Street Apartments, KEPHART is actively working on six additional communities across the state Montana – four in Bozeman, one in Missoula, and one in Billings.
Are you interested in learning more about the Bozeman market? Want to talk to us about a project? Give us a call at 303-832-4474.