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Market Watch

Big Sky Real Estate 4-1-1 October Newsletter

Posted on October 25, 2018

Hello friends and neighbors! As most of you know, the little town of Big Sky has changed considerably over the past few years and it's no wonder, because the economy is absolutely booming! In 2017, approximately 12.5 million nonresident visitors came to Montana and spent nearly $3.4 million dollars. Bozeman Yellowstone International Airport alone saw 1,199,537 passengers during 2017 which is up 8.3 % since 2016 and is the 8th consecutive year of record-breaking passenger traffic at BZN. Big Sky Resort also had a record- breaking year in 2017 with over 478,000 skiers. Some of the growth that Big Sky has seen in recent years includes the Big Sky Medical Center, Roxy's Market, and The Cave in their new location. There is Beehive Basin Brewery, Bobcat Mattress, The Cauldron, Persnickety Cleaners and Headwaters Fitness. There is The Big Sky Real Estate Company, Compass Café Montana Supply, Moe's Original BBQ, The Lotus Pad, The Spice and Tea Exchange and The Standard along Town Center Avenue. And now, the construction of the Plaza Lofts and Wilson Hotel. Ryan Hamilton, who is Town Center's project manager has noted that the principles on which Town Center was planned and built encourages "walkability, connectivity, smart transportation, mixed housing types, increased density, quality design, traditional neighborhood structure, sustainability, local businesses, and more. We believe that the Wilson hotel will be a game changer for the Town Center, the Meadow and by extension the entire community". The new town center will be a place for people to walk, shop, dine, and stay. It will essentially be the new "main" street of Big Sky Meadow.  If you have driven by the construction on Town Center Avenue, you will have seen that progress is being made on the new hotel. The exterior of the building is getting bricked (to make it appear historic) and there is a new plaza that borders the Wilson's retail and restaurant space that has a children's playground, fire pit, and gazebo. Acclaimed sculpture, Deborah Butterfield's horse sculpture, "Winter" is set front and center on the plaza grounds for all to view and enjoy. The Wilson hotel, which is also branded under the Marriott Residence Inn, will have 129 rooms and each room will have its own kitchenette (intended for those who don't want to eat out every night). The hotel will have a 5800 square foot restaurant and outdoor seating on the plaza. The lobby will have a fireplace, TVs, and an office workstation. There will be a breakfast room and an events room. The lobby will have large floor to ceiling windows to take advantage of the view of Lone Mountain and the hotel pool. There will be a ski storage area off the lobby entrance and the basement will have a dedicated bike storage room, ski wax room, and large fitness center.     The Plaza Lofts are the buildings next door to the Wilson Hotel and will be both residential and commercial.  The ground floor level will be the Blue Buddha Sushi Lounge and The Barrel Room, which will serve wine and cocktails. There will also be two boutiques, Dabney and The Sky. The second and third floor residential apartments will be slated for long term rentals managed by Two Pine Properties and will be not permitted to use as vacation rentals, keeping them on the market for Big Sky residents. The top floor will have two penthouses with unobstructed views of Lone Mountain. Big Sky Chamber of Commerce CEO Candace Carr Strauss has said that "Big Sky is vastly expanding the hospitality offering for our visitors, it will create new jobs and continue to fuel the economic expansion."

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All property data and market statistics are pulled from Big Sky Country MLS.

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