A Missoula holdings company and construction firm are gearing up to transform an old concrete warehouse on Toole Avenue into high-end apartments with ground-floor commercial spaces.
Greg Nemoff, owner of Sirius Construction and a partner in Zenith Holdings, said work on Toole Crossing should begin in January and require roughly 10 months. The property is located at 812 Toole Ave.
“We’re adding two floors to the warehouse,” Nemoff said Friday. “It’ll be upscale. They’re larger in dimension than units most commonly found on the market. More than half of them will have loft spaces.”
The units will also be completed with higher-end finishes and flooring. Nemoff said the project will include 32 apartment units on the second and third floors, and six ground-floor retail spaces.
The building was designed by DVG Architecture and Planning.
Nemoff said the area is undergoing rapid change from an old warehouse district on the Bitterroot Branch railroad line to a trendy uptown district complete with breweries, shopping and new apartments.
“There’s a high level of confidence in that area,” Nemoff said. “We consider it the most upcoming area in Missoula. It’s the new north entrance into downtown.”
Nemoff said the property’s proximity to St. Patrick Hospital and Partnership Health Care also played into their decision to tackle the project. St. Pat’s is gearing up to build an addition in the spring and Partnership continues to grow.
“There is an apparent trend of that occurring in the area,” he said of the ongoing renovations taking place across the district. “We look to that as an increasing level of confidence.”
Nemoff valued the project at more than $5 million. The project is Zenith’s only Missoula development, though Nemoff said the firm is looking at another local project at another location.