In December 2025, the Wagon Wheel Apartments—an 18-unit apartment complex in West Yellowstone—officially became resident-owned and entered a new chapter as the Gibbon Avenue Apartments. This milestone marks the first resident owned property of its kind in West Yellowstone and represents a powerful step toward long-term housing stability for the approximately 25 residents who call the community home.
Residents began organizing in August with technical assistance from NeighborWorks Montana. During this early phase, NeighborWorks Montana also provided a forgivable predevelopment loan to support critical steps in the purchase process, including earnest money, inspections, an appraisal, and legal costs. At the same time, the resident-elected board of directors worked diligently to establish bylaws, community policies, and procedures, while identifying priorities for ongoing maintenance and improvements.
At the time of purchase, NeighborWorks Montana provided permanent financing through its Gallatin Housing Impact Fund and REDA funds at rates designed to be sustainable for the community. The REDA team also helped coordinate additional financing from key partners, including the Montana Board of Investments and the Montana Healthcare Foundation. The Town of West Yellowstone further demonstrated its commitment to local housing stability by contributing permanent financing to support the transition to resident ownership.
Gibbon Avenue Apartments Secretary Isa Roles shared, “I’m excited about us setting a precedent in this town and about seeing the first West Yellowstone property of this kind grow into a successful community that can serve as a model for other communities in the future.”
The successful resident purchase was made possible through the combined support of the Town of West Yellowstone, West Yellowstone Foundation, Montana Board of Investments, Montana Healthcare Foundation, and Human Resource Development Council, IX. Together, these partnerships helped ensure that residents now have greater control, stability, and a lasting stake in their community.
If you are interested in learning more about shared equity ownership, or if you are interested in working with us to sell your property to your tenants, please email Adam Poeschl at [email protected].
