City commissioners approved a new 5 story building to be built on Mendenhall, following a recent trend of approvals for larger commercial buildings in the downtown area. The building will replace the soon to be demolished Opportunity Bank site. The building will inclue three floors for commercial use and two additional floors, with 29 units, for residential use. An underground parking lot will also be added.
For Bozeman residential and commercial real estate, the building will help alleviate the high demand for downtown businesses and also provide additional space for potential homebuyers.
The new 5 story building will join two hotels that have been approved in the nearby area, the Element and the Etha. The City Commission has put a recent focus on fostering more growth in the downtown area. Both hotels will end up leasing parking spaces from this new building to meet their own needs, so the 5 story building may have already been pseudo-approved when the hotels were approved as well.
Building tear down will begin in March.
Hart Real Estate Solutions