Cold Smoke
Courtesy of Lone Mountain Land Co.
Cold Smoke, adjacent to RiverView Apartments and across the South Fork of the West Fork of the Gallatin River, will add 389 community homes for rent and purchase.
The development, planned by Lone Mountain Land Company in partnership with the Housing Trust, will chip away at the 1,354 homes needed to meet the community’s demand by 2028.
Although the partnership is in its early stages, it hopes to make the first phase, consisting of 50-100 homes, available as early as 2027.
All homes will serve the local workforce and their families.
125 Homes for Purchase
Cold Smoke Ownership Waitlist
*The waitlist is currently for ownership units only. All homes for purchase require local workforce occupancy. Homes for purchase will include townhomes and single-family homes with one, two, and three bedrooms.
Cold Smoke Rentals
*The Housing Trust’s Ownership Waitlist is not yet prioritized. The date households join this waitlist does not guarantee a specific spot in line for Cold Smoke or any other Housing Trust development. Depending on demand, the Housing Trust anticipates picking Cold Smoke homeowners via a weighted drawing. The Housing Trust will provide more information as the project progresses.
2024
Finalize Entitlements
2025
Infrastructure Construction
2026
Start Vertical Construction
2027
Phase 1 Occupancy
Frequently Asked Questions
What is Cold Smoke?
Cold Smoke is a collaboration between Big Sky Community Housing Trust and Lone Mountain Land Company to build new rental and purchase housing product exclusively for the local workforce and their families.
Why does the community need a development like Cold Smoke?
According to the 2023 Housing Needs Assessment Update, Big Sky will need 1,354 homes by 2028 to meet current demand and keep up with job growth. Cold Smoke will add 389 homes.
When will Cold Smoke be ready for occupancy?
Cold Smoke is a multi-phase project in its initial planning stages. Located outside the Big Sky County Water and Sewer District, the first step is to annex the property utilizing workforce housing SFEs. On July 16, 2024, BSCHT Executive Director David O’Connor and LMLC Director Cryder Bancroft began discussing annexation with the BSCWSD board.
Phase 1, consisting of 50-100 homes, may be ready as early as 2027.
How much will rent be in Cold Smoke Apartments?
The partnership anticipates offering most apartments for rent but may also reserve some for purchase. Based on current building costs, rents will not surpass what is affordable for households earning 150% of the area's median income (AMI). The project hopes to secure subsidies to lower the rental rates.
How much will homes cost at Cold Smoke?
Unlike apartments, where the building cost is affordable to households earning 150% of the Area Median Income (AMI), building costs for single-family homes are only affordable to households earning over 300% AMI. Because of these high building costs, setting sale prices without knowing all subsidies and funding sources is challenging. The partnership hopes to sell Cold Smoke homes at 150% to 200% AMI.
