O’Day Enterprises, LLC, Blog Is Back
Shortly after leaving University of Montana Athletics in 2012, I was approached by Missoula-area businessmen Pat Corrick and Jim McLeod of Farran Realty Partners about a consulting partnership to help introduce them to some prospective investors for their real estate development projects. They already had two condominium undertakings in Montana (Monterra in Whitefish and Legends of Bridger Creek in Bozeman), as well as a very successful 192-unit “lifestyle” apartment community in Missoula, Copper Run. At the time, they were actively involved in the private capital fund-raising phase for CORSO in Missoula – another outstanding 224-unit apartment project that opened slightly more than a year ago in the Garden City.
Since that time, Farran Realty Partners has continued to expand its web. Currently, the firm is completing the final building stages of an impressive multi-family, lifestyle apartment community in Great Falls called Talus. Located near Benefis Hospital, and a short distance from the University of Great Falls and MSU-Great Falls campuses, the apartments are filling up as fast as the units can be built. The 216-unit complex is a real asset to the Electric City, and is serving a niche that has been missing in the community.
Within the next few weeks, Farran’s latest project will begin construction in Billings. Called Avenue C (photos included), the 126-unit, four story luxury apartment complex will be located on the back 4.2 acres on the northwest section of the recently renovated West Park Plaza Promenade off Grand Avenue. Once again, location is a key element as the apartment community is a short walking distance to city parks, trails and recreational fields, and less than five minutes by car to downtown Billings, local universities and the two hospital campuses. Dining and grocery shopping are only a few short steps away from the front entrance to Avenue C, along with many other shopping opportunities offered within the mall. The private capital investment phase of this particular project was $7 million, with the remaining $13.8 million coming in a construction loan. Again, this will be another Farran project that will be a great asset to a Montana community. For more detailed information on Farran Realty Partners, call 1.406.541.9000 or check out the website at www.farranco.com.
And Farran isn’t done yet – in fact, far from it. Plans are progressing for a $30 million, 450-bed university student housing project in Missoula to begin soon, as well as other opportunities the partners are carefully researching. As for the student housing project, the site was previously occupied by the First Interstate Bank drive-thru in the area of Front Street and Clay. It will be the first privately-owned student housing facility in town with full amenities such as an outdoor pool, music rooms, fitness center and study lounges. It is scheduled to open in time for the 2017-18 school year.
Along with this, Farran continues to work on the $150 million redevelopment of the Riverfront Triangle in downtown Missoula. The project is currently projected to include a 175-room branded hotel on top of a 35,000 square foot conference center on Orange and Front streets. It would also include restaurants, a 60-room boutique hotel, and housing and private condominiums. Also included is 50,000 square feet of purpose-built office space fronting West Broadway, along with 35,000 square feet of retail space, including a retail anchor. The project’s 800 parking spaces would mostly sit underground, with the exception of one parking structure. Once completed, it would represent the largest urban infill project in Montana history.
Farran has been an amazing company to consult for (great reputation and results from an extremely talented team that has been involved in more than $230 million in asset development) – and is one of several businesses currently utilizing the services offered by O’Day Enterprises, LLC., where we connect people with the world around us to make deals happen.