Community News

Big Sky's Big Sky Community Housing Trust (BSCHT) exists to help provide affordable and stable homes for residents living in Big Sky, Montana and it’s making strides in keeping the area affordable for local workers. Their "Good Deeds" program, launched in 2022, helps people buy homes by offering down payment assistance and placing deed restrictions on properties.

The program was so successful that it exhausted its budget halfway through its first year. Thankfully, a collaborative grant from Elevate Big Sky, totaling $1.39 million, is giving "Good Deeds" a major boost.

Preserving Homes for Locals

"Good Deeds" is modeled after similar programs in resort towns. It helps prevent existing housing from becoming short-term rentals and keeps homes affordable for local workers. This ensures the community has the workforce it needs to thrive.

Challenges and Solutions

High down payments are a major hurdle for many potential homeowners. "Good Deeds" acts as a down payment assistance program, making homeownership more accessible. Additionally, deed restrictions ensure the homes stay occupied by local workers and can't be turned into short-term rentals.

Early Success and Long-Term Goals

So far, "Good Deeds" has helped acquire seven deed-restricted properties. The BSCHT projects they can secure 20 homes per year with the additional funding. Their long-term goal is ambitious: securing deed restrictions on 20% of all properties priced under $1.5 million in Big Sky. While they acknowledge this might take decades, it demonstrates their commitment to long-term affordability.

A Trend for Resort Towns

Deed restrictions are becoming a popular tool for resort towns facing similar challenges. BSCHT hopes this approach will attract valuable residents who contribute to the community's unique character.

The Future of Big Sky

With continued support from programs like "Good Deeds," Big Sky can ensure its long-term success by keeping housing accessible for the workforce that makes the community special.