riverfront triangle

After years of negotiating, failed starts and other hurdles, the City of Missoula has finally closed on the sale of a high-profile property in the downtown district.

A new land use agreement between the owners of several Riverfront Triangle properties and the city will still deliver on public amenities while giving the developers more flexibility in developing the site, the city said Wednesday.

The Missoula Redevelopment Agency's board of commissioners on Thursday authorized up to $20,000 to aid in the transaction – a sum that includes closing costs, an environmental assessment and the necessary filing fees.

Several acres of private land in downtown Missoula went back on the market last week, and with plans for a nearby parcel now moving forward, redevelopment interest may build.

I see the Missoula City Council has approved selling the so-called “Riverfront Triangle” property to the development group, Averill Hospitality. It would be nice to finally see something happen at the old Fox Theater site - vacant since the 1980s.

A vote to approve a $100 million private investment in downtown Missoula survived a number of proposed amendments on Monday night and ultimately won the unanimous approval of the City Council.

With the backing of the mayor and downtown advocates, the City Council on Wednesday gave its initial endorsement to the sale of city-owned property at the Riverfront Triangle to a team of Montana-based developers.

Calling it a transformative project, the long-anticipated redevelopment of city-owned property in downtown Missoula is now poised to move forward, bringing event space, hotel rooms and other amenities to the dilapidated corner, which once served as a city dump.