Mike Riley said he owns six student rentals, four of which are vacant. Gary Dryden, owner of Dryden Properties, said his $575 apartments often stay on the market for as long as six weeks. The two both expressed a concern that putting 90 units on the market would make filling their vacancies all the more difficult.

Robert Edwards of Silver Bow Property Management also spoke during the hearing. He said he worries the complex will discourage people from investing in Butte. According to Edwards, he’s been “fielding calls from investors who have just been freaked out over this.” He also said granting the variance would equate to a slippery slope in which more zoning variances will be granted to developers in the future.

“Can you say yes to him but no to the next guy?” Edwards asked the board.

Despite these concerns, board members were optimistic about the Granite Street Apartments project.

Zoning board member Julie Jaksha reassured the dissenting landlords that “you will still own your properties here” and said that profits from the apartment complex would trickle down into the local economy.