The two-phase multifamily project will serve the growing housing needs of Gallatin County
BOZEMAN, Mont., Nov. 21, 2022 /PRNewswire-PRWeb/ -- ERES Capital, LLC, the full-service investment and development division of ERES Companies, and Charter Realty & Development Corp., announced today that they will be breaking ground Monday November 21st on Yellowstone Landing, a new multifamily workforce housing complex in Belgrade, Montana. The project is ideally located just off of I-90 in Yellowstone Airport Plaza, a new mixed-use development adjacent to Bozeman Yellowstone International Airport. The multifamily project will answer the growing demand for housing in the broader Gallatin Valley with 1-, 2-, 3- and 4-bedroom units.
The project is set to unfold in two phases, offering a total of 168 units in phase I with a mix of one-, two-, three-, and four-bedroom layouts across four buildings and spanning 15.39 AC. Pre-leasing now, the site will include a multitude of amenities, such as a dog park, fitness center, co-working lounge, pool, and more. Phase II will follow with a similar unit count.
"With Phase I already exceeding 40% pre-leased by several large employers in the market, there continues to be a huge demand for housing in the market," states Mike Elliott, CEO of ERES. "We are excited to break ground and create a place for folks to live, work, and play."
The projects centralized location, just 10 miles from Bozeman, 50 miles from Big Sky, and 90 miles from Yellowstone National Park, will make it an ideal housing opportunity for the large employee bases associated with these destinations.
For leasing information visit YellowstoneLanding.com and contact Mike Elliott at +1 406.599.0466 or [email protected].
ABOUT ERES CAPITAL
A division of ERES Companies, ERES Capital delivers unique private equity investment and development opportunities to partners and investors. Our emphasis is on mining off-market investments that provide maximum returns across a variety of commercial real estate product types including hospitality, healthcare, multifamily, industrial and education. For more information, visit http://www.erescapital.com.
ABOUT CHARTER REALTY & DEVELOPMENT CORP.
Charter Realty & Development Corp. is a full-service commercial real estate acquisition, development, and leasing company. Founded in 1993 by Paul Brandes and Dan Zelson, Charter focuses on acquiring and developing retail and mixed-use assets within both urban and infill, suburban markets across the country. Its vertically integrated platform enables Charter to successfully navigate various complex structures and conditions, implementing a strategic business plan that results in stabilized, vibrant, community-driven projects.
Charter Realty currently owns and/or manages 24 assets within nine states, spanning the East Coast and Mid-Western Mountain Region. In addition, Charter's third-party leasing arm currently acts as an exclusive leasing agent for over 90 properties across the country, having successfully leased more than 25 million SF of space to-date. For more information, please visit http://www.charterrealty.com.
ABOUT CREC CAPITAL
CREC Capital is dedicated to uncovering commercial real estate investment opportunities and unlocking their value. Our goal is to deliver attractive risk-adjusted returns to our partners in target asset categories and carefully selected locations. With deep experience, market knowledge and acquisition skills, Managing Partners Warren Weiser and Alan Esquenazi have delivered exceptional results - over $5 billion of investment activity generating an average IRR of more than 20% and 2.0 times invested capital. CREC Capital's primary focus is on retail, multifamily, office, industrial and hospitality assets, with a concentration on strategic locations throughout the United States. For more information, contact Warren Weiser at +1 305.779.3150.
Media Contact
Mike Elliott, ERES Companies, 1 406.599.0466, [email protected]
SOURCE ERES Companies
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