Housing costs are one of the biggest economic pressures in Montana’s resort and gateway communities. Big Sky’s largest response so far broke ground in October 2026.
The project
Cold Smoke, led by the nonprofit Big Sky Community Housing Trust, is planned for 389 homes: 264 multifamily homes for rent or purchase and 125 single-family homes for purchase. The site is near Meadow Village, south of Montana Highway 64. The homes are deed-restricted for people who live and work in Big Sky year-round.
How it is funded
Most of the funding comes from Big Sky resort-tax bonds of roughly $55–58 million (sources report slightly different totals), approved by local voters in 2025. The resort-tax district also committed money for a water tank. An earlier agreement reserved wastewater capacity for workforce housing.
Timeline
Local reporting says the first phase is expected to open around spring 2028.
The bigger picture
Gateway communities across Montana, including Whitefish, Bozeman and West Yellowstone, are trying deed restrictions, land trusts and public-private financing to keep local workers housed.
For more background, see our explainers on the proposed Big Sky TEDD, how Montana’s resort taxes work, and starting a business in Montana. Find more stories in our Business section.
Sources
- Explore Big Sky, Oct. 2026: https://www.explorebigsky.com/from-today-forward-we-talk-about-homes-largest-workforce-housing-project-in-big-sky-breaks-ground/174620
- Bozeman Daily Chronicle, Oct. 2026: https://www.bozemandailychronicle.com/news/local/big-sky-breaks-ground-on-cold-smoke-workforce-housing-development/article_af22f53f-7fbf-412d-b49f-9cd46087fa4b.html
- Big Sky Community Housing Trust: https://bigskyhousingtrust.org/