SHOVEL-READY DEVELOPMENT OPPORTUNITY

Located in West Yellowstone, Montana, Moonrise @ Yellowstone is a new multi-phase residential development approved for 200 apartment units across 16 buildings on approximately 21.82+/- acres. The project includes a mix of 24-unit and 12-unit apartment buildings, plus two 4-plexes, a clubhouse, garages, and maintenance facilities. Designed for modern mountain living within R-4 zoning, Moonrise brings much-needed housing to the gateway of Yellowstone National Park while maintaining thoughtful site planning and open space integration on essentially one of the last large developable lots available in the city.

This project is essentially shovel ready with full commitment from the city of West Yellowstone for water and sewer. The main hook-ups for these utilities are currently stubbed at the entry to the project from Madison Subdivision.

The project has the ability to be long term rented apartments or condos for sale. The project has also been approved to be phased in up to 10 separate phases.

PROJECT PLANS

AREA
NEED

Workforce Growth Outpacing housing

West Yellowstone employment grew 29 percent YoY (2022–2023) while housing supply lags countywide (3.3 percent job growth vs. 2.3 percent housing growth).

Severe Renter Stress

40–50 percent of renters are severely cost-burdened in West Yellowstone.

STR Saturation Overtakes Inventory

600–700 active Short Term Rental (STR) listings with 60–70 percent occupancy.

Workforce Housing Gap

Town planning documents explicitly cite a shortage of affordable and seasonal workforce housing.

Demand for Long-Term Housing

Despite rapid job growth, most employees must live 30–120 miles away in surrounding communities, as West Yellowstone lacks sufficient long-term housing. The map shows the real distances involved.

INVESTMENT HIGHLIGHTS

KEY APPROVALS IN PLACE

All discretionary approvals have been completed; the remaining permitting steps are administrative and tied to final construction drawings.

EMPLOYMENT DEMAND

West Yellowstone’s seasonal and year-round workforce needs continue to outpace available housing, supporting strong absorption for long-term rentals and future condo ownership.

HOUSING
DEMAND

Limited local inventory and sustained pressure from both seasonal workers and long-stay visitors have created a clear gap in attainable, well-located housing—positioning Moonrise to meet a need the market has been unable to satisfy on its own.

HIGH TRAFFIC
TOURISM

The West Entrance captures the highest share of Yellowstone visitation, creating built-in demand for exposure, visibility, and consistent rental interest across all seasons.

LOCATION APPEAL

Positioned at the primary gateway to Yellowstone, the site combines lifestyle desirability with dependable year-round activity, making it one of the strongest geographic plays in the region.