ERES Capital has teamed up with Charter Realty & Development Corp. and CREC Capital to develop a 170-unit workforce housing project in Belgrade, Mont.
The development will be completed in two phases. Phase one will break ground this summer and is slated for delivery in the second half of 2023, with phase two following.
Currently in the pre-leasing phases, the property offers a mix of one- to four-bedroom floorplans, totaling 440 beds. Community amenities will include a dog park, pool, coworking space and fitness center.
Located at the new Interstate 90 exit ramp at Yellowstone Airport Plaza, the property will be adjacent to Bozeman Yellowstone International Airport, some 10 miles northwest of downtown Bozeman and 50 miles north of Big Sky.
The Bozeman market recently welcomed an influx of people due to the pandemic-induced migration from densely populated metropolitan areas. The community aims to address the growing need for workforce housing in the region, according to prepared remarks from ERES CEO Mike Elliott.