BILLINGS- It’s been a low-profile project that could have big implications in downtown Billings, changing the landscape and the housing dynamic.
Plans are moving forward to build a new 12-story high-rise tower in downtown Billings, and architects are calling it the Futurity Tower.
It's a catalyst mixed-use residential project in the current site of YesterYear’s Antiques shop, with two floors of retail, restaurant and office space topped with 10 floors of one and two-bedroom apartments.
Katy Easton with the Downtown Billings Alliance says it’s not a project that’s final. Its aim is two-fold: re-inventing a prime downtown core location, while also setting up the antique mall for its own new prime location under Skypoint.
In 2016, the Downtown Billings Partnership purchased the building to be developed later.
“YesterYear’s is a long beloved community asset that we have,” said Easton, adding that it brings hundreds of visitors to the location each day.
As for the tower, she says it’s still in the early phases.
“It’s hard to say much more knowing that the project hasn’t been fully designed yet, but we are really excited to see what happens as that design comes to fruition,” she said.
However, a big part of the tower is housing.
“We are going to be able to put many housing units into the market here into downtown Billings, and we are really excited about that,” she said. “If you start with housing, all of these other things fall in behind it.”
The need for housing is a part of the overall equation when it comes to discussing Billings’ public safety and downtown retail growth, according to Easton.
“We purchased it for the very intentional goal of creating a big development on this corner,” she said.
Big Sky Economic Development also has a stake in the project seeing the Futurity Tower as a catalyst for redevelopment and growth in the downtown.
Executive Director Steve Arveschoug says he envisions a blend of hospital workers and downtown professionals taking up space in the tower apartments and walking to work and amenities.
“That then distinguishes our community even more so as a great place to live,” he said.
Big Sky Economic Development says it recently conducted a housing study and found that Billings would need to add a minimum of a thousand new homes in the downtown corridor to handle big upcoming investments in the medical corridor, including the building of a new St. Vincent hospital and Billings Clinic expanding into a Level 1 Trauma Center.
“What I am excited about it is we have a local developer with a lot of smarts, with a lot of creativity that’s saying I love this community and I am willing to make an investment. And that attitude and that approach is going to make a big difference,” said Arveschoug.
But already in the path of the tower is a business that’s sat solid for over 20 years. YesterYear’s antique mall will now move to the Hart Albin building into the basement.
It's something the Kramer family, who bought the business in 2019, is looking forward to.
“I feel like every year I see the success, at least for us I see the businesses flourish,” said Austin Kramer.
In 60 days, they will move with the help of $152,500 in tax-increment financing approved Monday by the Billings City Council. That money will help move over 80 vendors to another eye-catching location at the Hart Albin building.
“Instead of it being three levels, it will be one massive level so all of our vendors will be spread out along one level,” said Kramer.
Those with High Plains Architect have said they plan to discuss the project more in-depth in time but for now say this is an exciting leading-edge project.
