SoPo lofts

DESCRIPTION

Like most of the trackside warehouses in downtown Billings, this pair of two-story buildings had long been vacant. The 15,000 SF downtown linked historic buildings were renovated into a mixed-use project: the SoPO (south of post office) Lofts. The first floor has 4,500 SF of retail space and six indoor parking spaces. The second floor has six loft-style apartments, and the basement has storage.

To accommodate the change of use, new egress stairways were provided. Shell improvements included a new insulated roof, tuck-pointing of brick façade, replacement of non-original glazing with low-E double hung windows, and new entryways. The completed work was accepted for listing on the National Register of Historic Places.

Story of investors—what motivated them?

LOCATION
Billings, Montana

SIZE
Building Gross Area: 14,500 SF
Residential Area: 6,474 SF Commercial Area: 6,600 SF

DWELLING UNITS
6

TOTAL COST
$879,650

CAPITAL STACK
• Commercial Loan
• Revolving Loan Fund
• Private Equity
• Historic Tax Credits
• TIF Grant

COMPLETED
2002

PROJECT HIGHLIGHTS
Historic Tax Credits