BOZEMAN- The price of housing in Bozeman is a regular conversation, with the need for more affordable housing the Bozeman City Commission and the HRDC are moving towards a solution.
A brand new 62 unit affordable housing neighborhood to serve mixed-income individuals to addresses the gap of affordable housing along with creating paths to homeownership for people right here in the Bozeman area.
The new development is an 8-acre site directly east of the new Story Mill Community Park and the land was donated to HRDC by the Trust for Public land in 2019, with the goal of creating a neighborhood to complement the new park.
The HRDC says the goal of this project is to create a permanent contribution to the Bozeman housing market and help put a dent in the gap making homeownership a reality.
"A primary goal of this neighborhood is to demonstrate sustainability - using locally-sourced, lasting building products, energy-efficient design - is key in consideration of the long-term costs of ownership,” Tracy Menuez the Associate Director of the HRDC said, “Selecting high-performing materials that result in lower maintenance and utility costs ensures that homeowners realize enhanced savings over the life of the home, not just on the day it is purchased."
When construction is complete around 2022, 31 market-rate homes will be up for grabs, along with 31 being under market rate, the HRDC will maintain involvement in some of the properties so that when the time comes they can be resold at an affordable price.
Homes will be targeted to local working families and others – who, despite earning an average income, find themselves priced out of the Bozeman housing market.
Units will be sold at below-market prices which will help keep permanently affordable to ensure that future generations of middle-income households in the Bozeman area can obtain the dream of homeownership.