Argosy Real Estate Partners has acquired an approximately five-acre, fully entitled site in Bozeman, Mont., for the ground-up development of The Annex of Bozeman, a 134-unit workforce multifamily housing community.
The project will consist of a four-story, surface-parked, wood-frame building featuring a mix of studio, one-bedroom, two-bedroom and three-bedroom units. Amenities will include a fitness center, lounge, covered bicycle storage, ski storage and a rooftop deck with unobstructed mountain views. In addition, the project will have an approximately one-third-acre park located on the northeast quadrant of the site. Residents of the project, which is within walking distance of Montana State University, will include a mix of young professionals, MSU faculty and staff, and students. The investment provides the opportunity to develop a new multifamily property in a high-barrier-to-entry, rapidly growing market with a severe shortage of workforce housing, while obtaining the
