Big Sky Workforce Struggles Spark Massive Housing Development

Big Sky Faces Longstanding Affordable Housing Challenges

Affordable housing has been a longstanding problem for years for those that live and work near Big Sky.

In an effort to fix that, the Big Sky Resort Area District is looking to build over 300 new homes in the area thanks to a new municipal-bond deal.

Housing Crisis Called An “Emergency” By District Leadership

John Zirkle, who serves as the vice chair of the district’s board, said the housing crisis in their area has gone beyond being a problem and is now "an emergency."

Thanks to a $53 million debt sale by the Big Sky Resort Area District, they are hoping to spend almost $220 million on building 125 homes along with 364 rental apartments.

The new development, which is called "Cold Smoke," will see the bond backed by a 1% resort tax levied on purchases in the area, which includes the reported $300,000 membership deposit and annual club dues for Yellowstone Club members.

Local Report Highlights Workforce Housing Struggles

The Big Sky Housing Trust conducted a report in 2023 that found that 80% of Montana households aren't earning enough income to afford the $1.8 million average home cost in that area.

Board Members Stress Need For More Housing

Due to this, the report found that 83% of the workforce employed at Big Sky commute to work anywhere from 60 to 90 minutes each day.

Grace Young, a board member for the Big Sky Resort Area District, was quoted as saying, “We just don’t have enough homes to have our workforce living here.”

Prior to the vote, the district assured current residents that they would not be increasing taxes on them.

The district's website had the following statement listed: "Resort tax allows visitors to contribute to funding the local infrastructure and services that benefit all, lessening the financial burden on residents."

Source: Bloomberg