Argosy Real Estate Partners Acquires Opportunity Zone Site for Multifamily Development in Bozeman, MT
We are pleased to announce that Argosy Real Estate Partners has acquired an approximately five-acre, fully-entitled site in Bozeman, Montana 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 1/3-acre park located on the northeast quadrant of the site. Residents of the project, which is within walking distance to Montana State University (“MSU”), 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 benefits of investing within a Qualified Opportunity Zone.
The project will be developed in partnership with The Annex Group, a leading workforce, affordable and student housing developer with a portfolio of communities valued at more than $500 million. Founded in 2007, The Annex Group focuses on the development of affordable, student and workforce housing in emerging markets.