Second office building planned for Broadway in Missoula’s new opportunity zone
The developers behind a new office building under construction on Maple Street plan to begin work on a second building on the same parcel of land at the corner of West Broadway.
Engineering Support Services LLC sought and received a green light from the Missoula Redevelopment Agency on Thursday to proceed with the work and return later this year for potential reimbursement through tax increment financing for electrical upgrades needed to move the project forward.
“There's some utility upgrades that need to happen sooner than this project will be ready to come to you for,” Ellen Buchanan, executive director at MRA, told the board of commissioners. “They want to move forward with this utility work that will not only serve this new building at Broadway and Maple, but the new development that will take place out there.”
The project, which remains in design but will likely include a three-story office building, according to Buchanan, will mark the second investment to land in the city's new opportunity zone. ESS purchased roughly 6.5 acres off Broadway in 2017 and is currently constructing an office to house DJ&A on the site.
Last month, MRA's board approved $301,000 in tax increment financing to make public improvements to the right of way as part of DJ&A's $3.5 million office project. That funding will help bring modern sewer and power to the property.
“They (ESS) bought a fairly sizable parcel of land there on Broadway, a small amount of which is being used for that (DJ&A) office building,” Buchanan said. “There's another project proposed for the corner of Broadway and Maple that hadn't been solidified at that time. But they're moving ahead with it now.”
MRA is expected to consider a request for additional TIF funding to upgrade electrical services in the area, possibly next month. Once the work is completed, the developers plan to move forward with the second office.
The final design and cost estimates have not yet been provided. The firm plans to fully redevelop the entire 6.5 acre parcel.
“They're still in the planning process,” Buchanan said. “It's nice to see that area redeveloping.”