NewsMissoula County


Construction set to begin on new Missoula luxury condos

Posted at 4:14 PM, Feb 18, 2021
and last updated 2021-02-18 18:19:44-05

MISSOULA — Missoula approved the development of luxury condos on Fourth Street about a year ago.

Currently on the lot are historic homes which caused quite a controversy around the project. But now the condos are ready to buy, and construction is almost underway.

The historic homes will soon be replaced with luxury condos which the developers say are up for pre-sale.

"To make something that fits in with the urban landscape, and the riverfront area, and the Kim Williams Trail,” explained developer Cole Berquist.

The buildings will be four stories tall with one, two and three bedroom units in the University District.

"We're feeling well received, we've got a lot of people that are interested. A lot of feedback on social media."

Missoulians had a lot of pushback when the project was first announced, spending hours at Missoula City Council meetings. But now Bergquist says they've already talked to hundreds of interested parties.

"I guess the atmosphere's kind of changed compared to when we were going through that entitlement phase."

In order to receive approval for the project from the city council developer Cole Berquist had to agree to make a portion of the homes "affordable."

"We're excited that first of all, we get to contribute to the supply of housing that's very necessary in Missoula," Berquist told MTN News.

Eight of the 48 units will go for $239,000. "Those are deed-restricted, so they can't be sold. And you have to qualify," Berqust explained.

The units will only be available to those making 120% or less of area median income.

"We want to give everyone a fair chance. We want to make sure that we get to all outlets of people,” Berquist said.

“Maybe everybody's not on social media or doesn't go on the MLS, or whatever. So, we've actually got a different, an additional marketing plan for the affordable units,” he added.

Berquist says construction start is weather dependent. Several of the units are already sold to investors. Click here to find out more or reserve a unit. You can also call The Reed at (406) 552-1411.