COMMUNITY HOUSING
Community housing is extremely important to mountain resort towns, and it is vital to have viable solutions in place. Lone Mountain Land Company has proactively undertaken initiatives and developments to address this issue and ensure that the community of Big Sky has a skilled and committed workforce.
HOUSING SOLUTIONS
Lone Mountain Land Company has developed over 500 long-term rental units in Big Sky. These range from studio apartments to five-bedroom townhomes and are currently 100% leased to a combination of local families, local businesses, and individuals working in Big Sky. In late 2020, the company formed a new business division dedicated to developing community housing for the benefit of the Big Sky community and has already invested over $300 MM of capital. Housing projects include Buck’s T-4, Powder Light, RiverView, Gallatin Gateway Inn, and Gateway Village, among others. These new projects are in various phases of development and at full buildout will comprise over 1,250 units with over 4,000 beds.
Big Sky Community Housing Trust Partnership
LMLC, and its affiliate CrossHarbor Capital Partners, frequently collaborate with the Big Sky Community Housing Trust (BSCHT). The Chief Financial Officer of LMLC and a Vice President of the Yellowstone Club (a subsidiary of CrossHarbor Capital Partners) both serve on the BSCHT Board of Directors. LMLC is currently partnering with BSCHT and the Big Sky Area Resort Tax on a 97-unit workforce housing development called RiverView.
Challenges & Innovation
Making housing affordable for occupants relies upon minimizing construction costs. The COVID-19 pandemic has increased pre-existing construction challenges, including causing supply chain disruptions that have driven up costs and pushed out project timelines across the country. LMLC is deploying creative solutions to avoid construction delays for workforce housing developments. We are currently using innovative off-site modular assembly construction for components of nearly every project underway.
Sustainability & Community Design
LMLC is committed to building residential communities that have a lasting, positive physical impact on the Gallatin Valley. We work with highly experienced architects and strive to create housing that is well-designed, highly functional for its inhabitants, and environmentally sustainable. We are currently installing energy-saving solar photovoltaic systems on several of our workforce housing buildings, including Buck’s T-4 and Powder Light facilities, which was the largest single investment a single business has made in onsite renewable energy generation in Montana.