MeadowView Condo Development
MeadowView is a 52 unit deed restricted affordable housing development, sponsored by the Big Sky Community Housing Trust.
MeadowView Condo Development
MeadowView is a community land trust development. Construction finished in July of 2021. All units are sold.
Funded in part by the Big Sky Resort Tax District, the MeadowView project provides affordable homeownership opportunities to year-round employees. This 52 unit deed restricted development located off of Little Coyote Road consists of 12 studios and 40 two-bedroom units. Using the community land trust concept, the homes sell to eligible purchasers at subsidized rates.
CONTRIBUTORS & IMPACT
How to Become Eligible to Purchase
To be eligible to purchase, candidates must attend a Homebuyer Education Class and meet one-on-one with an HRDC counselor to review household finances. To register for the Homebuyer Education Class, contact Roselle Shallah at email@example.com or call 406-585-4895. ALL UNITS ARE SOLD.
Learn About MeadowView’s Deed Restriction
MeadowViews sell to qualifying households for a below market rate with a deed restriction that limits the appreciation the owners receive at resale. When owners sell, they must sell to a qualified household or to the community land trust at a predetermined affordable price. When purchasing homes in MeadowView, buyers know the maximum appreciation percentage they may receive annually for the period that they own their homes. This model allows households priced out of expensive housing markets to purchase, benefiting from limited appreciation and housing stability, while ensuring that the investment to create affordable housing remains in the community in perpetuity.
MeadowView Sold Out
There is currently a waiting list for MeadowView. Construction is complete. Units will be available only when a current owner sells.
The MeadowView development is comprised of functional studio and two-bedroom condominiums, each with heated one-car garages. Studios have a laundry closet, a kitchen, full bathroom, and room for sleeping and living accommodations. Two-bedroom condos have a living and dining area with a deck, full kitchen, laundry closet with a half bath, and two bedrooms with two full baths on either an upper or lower level.
Located on a cul-de-sac adjacent to the Big Sky Community Park, national forest, and common open space, this property connects to maintained foot and Nordic ski trails. MeadowView is on the free shuttle route and is also proximal to the post office, the public golf course, Town Center, and Meadow Village.
Local full-time employed buyers must take an online homebuyer education class, live in the condos, and satisfy income and other qualifying guidelines. The project is eligible for Fannie Mae financing, which may offer buyers a lesser down payment than those offered with traditional loans.