INDIANAPOLIS (April 13, 2021) – The Annex Group®, a leading workforce, affordable and student housing developer, announces today plans to develop a new workforce housing community in Bozeman, MT. Funding for The Annex of Bozeman closed today. The $31 million community will feature 134 units including studios, one, two and three-bedroom units available to working families and young professionals whose income level is targeted between 80 and 120 percent of the area median income (AMI).
“The need for workforce housing in Bozeman is evident,” said Kyle Bach, CEO of The Annex Group. “Some local business leaders say they’ve had trouble recruiting employees because of the lack of housing. And because of the proximity to Montana State University, many students are competing for rentals with workers. We’re really pleased to be able to offer professionals another housing option that is both high-quality and affordable.”
“KTGY is pleased to deliver another exciting community for The Annex Group,” said Craig Pryde, Principal of KTGY. “This new development will provide much needed residential living for the people of Bozeman.”
The Annex of Bozeman will feature abundant amenities, including: an on-site integrated public park with pavilion, sky deck with views of surrounding mountains, lounge, fitness center, ample indoor bike and ski storage, covered parking and volleyball courts. Construction is expected to begin in April with the project opening slated for late summer 2022.
Partners on the project include: KTGY for architecture, Argosy Real Estate Partners for equity, Avenue5 Residential for property management, First Merchants Bank and Citywide Banks, a subsidiary of Heartland Financial USA, Inc., for debt, and BC Contracting for construction.
ABOUT THE ANNEX GROUP®
The Annex Group® is a leading workforce, affordable and student housing developer with a focus on providing innovative, amenitized housing in emerging markets throughout the United States. The Annex Group encompasses a vast portfolio of communities valued at more than $500 million. Serving as a catalyst for economic development, The Annex Group has overseen over $1 billion in commercial projects including redevelopment and ground-up construction. The Annex Group is proudly headquartered in Indianapolis, Indiana. To learn more about The Annex Group follow them on Facebook and LinkedIn.