Belgrade’s Vision for Growth – Insights for Commercial Real Estate

Belgrade’s ongoing Clearly Belgrade Master Plan and the updated Future Land Use Map outline a robust strategy for managing growth while creating opportunities for new development. As the city experiences rapid growth, these evolving plans are essential in shaping Belgrade’s land use, transportation, and community infrastructure to support a thriving community. For SterlingCRE Advisors’ clients, these plans serve as strategic roadmaps that identify emerging opportunities for commercial real estate investment, including mixed-use developments and neighborhood-serving retail projects.

Clearly Belgrade: A Holistic Growth Strategy

Belgrade’s updated Future Land Use Map is an integral part of the Clearly Belgrade Master Plan, providing specific zoning and land-use designations that align with the strategic vision for sustainable growth.

The Clearly Belgrade Master Plan is a comprehensive strategic initiative designed to create a unified vision for land use, transportation, water infrastructure, parks, and recreation. By developing a cohesive approach to planning, Clearly Belgrade addresses the pressures brought on by rapid population growth, providing a framework to support sustainable development while enhancing residents’ quality of life.

Belgrade became Montana’s newest first-class city in May 2022, with a population exceeding 13,500 by 2023, making it the fastest-growing city in Montana. The city has experienced unprecedented growth, with over ±1,800 acres annexed into the city in the last 24 months, effectively doubling its physical size. This rapid growth makes the Clearly Belgrade Master Plan and the updated Future Land Use Map essential tools in managing Belgrade’s expansion while seizing the many opportunities it presents for CRE investors.

For SterlingCRE Advisors’ clients, the plan’s focus on major transportation corridors, utility enhancements, and mixed-use developments is crucial. These elements highlight where infrastructure investments are planned, making them hotspots for commercial real estate investment.

One such opportunity is the property located at 1260, 1270, and 1280 Amsterdam Road. This listing presents an ideal location for investors looking to establish a presence along one of Belgrade’s key growth corridors. With easy access to major routes and the potential to support a variety of uses, this property aligns well with the strategic growth plans outlined in the Future Land Use Map and offers a promising opportunity for retail, office, or mixed-use development.

Future Land Use and Growth Areas

Belgrade’s Future Land Use Map Amendment aims to accommodate the city’s expanding population while preserving agricultural areas and balancing different land uses. The amended map designates land for a variety of purposes, including suburban, mixed-use, commercial, and high-density residential areas. The emphasis on mixed-use areas is particularly promising for developers seeking opportunities to blend retail, office, and residential spaces in proximity to existing amenities and transportation corridors. As more areas are annexed into Belgrade’s city limits, they will be rezoned to align with the city’s growth policy goals, ensuring developers have clear pathways for new projects.

Specific areas of interest include the mixed-use zones and high-density residential areas, which are well-suited for vertical development and multifamily housing projects. These zones allow investors to capitalize on Belgrade’s growing need for diversified housing while also supporting commercial amenities that cater to the community’s daily needs. The focus on mixed-use zones near major transportation corridors like Jackrabbit Lane and Interstate 90 further enhances their appeal, providing potential for high-visibility retail and multi-functional spaces.

Industrial and Commercial Zones Along Key Corridors

The land use map also identifies industrial and commercial zones along significant transportation corridors, including Jackrabbit Lane, Interstate 90, and Frontage Road. These areas are prime targets for light manufacturing, logistics, and distribution centers given their strategic location with easy highway access. Proximity to the airport further strengthens these locations for industrial development, making them attractive for businesses needing logistical ease and high connectivity. CRE investors looking for stable, long-term growth assets will find opportunities in these well-positioned commercial light manufacturing zones.

Suburban Residential and Neighborhood Retail Growth

Belgrade’s suburban land use designations cater to family-oriented neighborhoods and community expansion. Developers can leverage these areas to introduce neighborhood-scale retail that supports growing suburban communities, providing essential services like grocery stores, childcare, and healthcare facilities. This strategy not only meets residential needs but also enhances value for commercial investors through steady foot traffic and local customer engagement.

Major Subdivisions and Growth Opportunities

Several major subdivisions are currently in process, each representing significant opportunities for growth. For example:

  • Ashton Meadows (± 140 acres) will add 693 dwelling units, increasing the population by 1,732.

  • Black Rock (± 170 acres) is expected to add 1,360 dwelling units and 1 commercial lot, contributing 3,400 to the population.

  • Prescott Ranch (± 153 acres) will add 601 dwelling units, increasing the population by 1,502.

  • Bridger Heights (± 84 acres) will add 765 dwelling units, increasing the population by 1,912.

  • Jackrabbit Crossing (± 195 acres) will feature 1,196 dwelling units and 45 commercial lots, ideal for mixed-use development along this key corridor, increasing the population by 2,990.

  • West Post (± 250 acres) will feature 1,464 dwelling units and 47 mixed-use commercial lots, estimated to boost the population by 3,660.

  • Meadowlark Phases 5, 6 (± 73 acres) will add 145 dwelling units and 47 mixed-use commercial lots, contributing to a population increase of 362.

  • Middleton (DNRC) (± 600 acres) will add 4,686 dwelling units and potentially up to 142 acres of commercial lots, with a projected population increase of 11,715.

These subdivisions align with Belgrade’s focus on expanding its infrastructure and services, with impact fees ensuring that growth contributes to public resources like streets, water, and sewer systems.

Transportation Master Plan

The Clearly Belgrade Transportation Master Plan focuses on enhancing transportation networks, including road expansions, improved connectivity, and multi-modal options like biking and walking paths. These improvements aim to support future growth corridors and reduce congestion. For SterlingCRE Advisors’ clients, these infrastructure upgrades indicate emerging areas ripe for development—especially transit-oriented mixed-use projects that benefit from enhanced mobility.

Belgrade, Bozeman, and Gallatin County have also established Montana’s first multijurisdictional Metropolitan Planning Organization (MPO), setting a precedent for regional collaboration on growth management, which adds further value to the areas along these shared corridors.

Mixed-Use and Transit-Oriented Development

Mixed-use and transit-oriented development play a key role in Belgrade’s growth strategy. The amended land use map encourages vertical integration of residential, commercial, and public uses. Areas near transportation hubs are designated for higher-density mixed-use projects, providing substantial opportunities for CRE investors to meet demand for well-located, multifunctional properties. The focus on mixed-use development in these transit-rich zones aligns with current urban growth trends that prioritize reduced reliance on vehicles, creating vibrant, walkable communities.

For instance, the downtown core and surrounding high-density zones are ideal for developing apartment complexes alongside retail shops and office spaces, enhancing both livability and convenience for residents. These types of integrated spaces support sustainable growth while enhancing property value for investors.

Downtown Design Plan and Urban Revitalization

The Downtown Design Plan aims to enhance Belgrade’s central business district by improving both aesthetics and functionality. The plan includes public parking solutions, streetscape enhancements, and cohesive design guidelines to ensure new buildings complement the area’s character. Improvements such as dedicated bike lanes, pedestrian crossings, and decorative street lighting are designed to increase foot traffic and create a more appealing environment for businesses and residents.

For investors, the downtown area—part of the Urban Renewal District—presents significant opportunities for redevelopment projects. Tax Increment Financing (TIF) can further enhance the viability of these projects, making them more financially attractive. Investors interested in adaptive reuse or urban infill development will find ample opportunities in Belgrade’s downtown as the city continues to grow and modernize its urban core.

Regional Parks, Trails, and Community Enhancements

The Belgrade Regional Parks, Trails, and Recreation District plan addresses the need for more outdoor spaces as the population expands. For CRE investors, proximity to these new parks and trails represents a significant value-add, particularly for residential or mixed-use developments. Access to green spaces and recreational amenities is increasingly becoming a key factor for residents and tenants, boosting the attractiveness and value of nearby properties.

SterlingCRE Advisors: Your Partner in Maximizing Opportunities

At SterlingCRE Advisors, we are committed to leveraging insights from Belgrade’s Future Land Use Map and the Clearly Belgrade Master Plan to help our clients make informed decisions. By combining this public planning data with our exclusive in-house market intelligence, we provide tailored advice that helps clients identify ideal locations for investment and maximize their portfolio’s value. Whether it’s positioning mixed-use developments in emerging neighborhoods, supporting transit-oriented retail and office space, or highlighting key properties like 1260, 1270, and 1280 Amsterdam Road, SterlingCRE Advisors ensures that our clients are at the forefront of Belgrade’s evolving real estate market.

The Bigger Picture: Leveraging Public Policy to Identify CRE Opportunities

Belgrade’s growth plans provide a clear vision of where the city is heading and offer valuable insights into future commercial real estate opportunities. For SterlingCRE Advisors’ clients, understanding these public planning documents is key to anticipating future zoning changes, locating infrastructure investments, and aligning development interests with community growth goals.

Investors and developers should consider focusing on Belgrade’s key growth areas, such as the mixed-use corridors and suburban neighborhoods highlighted in the Future Land Use Map. Transit-oriented projects, community-serving retail, and sustainable developments will be critical as Belgrade continues its rapid growth trajectory. By staying ahead of these trends, SterlingCRE Advisors is prepared to guide clients through opportunities, ensuring that every investment contributes to Belgrade’s vibrant and sustainable future.

Ryan Springer, CCIM

Ryan Springer, CCIM, is the Principal Broker at Sterling Commercial Real Estate in Bozeman, Montana. With nearly two decades of extensive experience in the commercial real estate sector, Ryan has honed a reputation for his deep-rooted connections and a nuanced understanding of the Gallatin Valley market.