Riverfront Triangle Project proceeds

The City of Missoula and Averill Hospitality have inked a deal and are proceeding after years of planning and stalled efforts. This hotel and conference center development project aligns with the original vision and current public priorities for downtown vibrancy, riverfront access, infrastructure, and the local economy.

Averill Hospitality brings strong Montana roots and a proven track record with properties in Whitefish, MT and the DoubleTree by Hilton in Mssoula - Edgewater.

The public benefits from this project in two substantial ways: First, this deal supports affordable home creation and preservation because this project contributes money voluntarily to the City’s Affordable Housing Trust Fund. Not only will the City contribute the $4 million in sales proceeds from the land to the trust fund, but the Averill’s will contribute up to $3 million over 10 years for a total contribution of $7 million to the fund. Second, the project facilitates walkability and public gathering space, boosting Missoula’s tourism and tax base.

The deal is pretty straight forward: sale of the land contributes to the Affordable Housing Trust Fund. Economic Development and infrastructure investment will come from the Missoula Redevelopment Agency (MRA) to pay for subsurface utilities, improvements to streets, sidewalks, landscaping, the riverfront trail and a public plaza.

This area of downtown has been an area of blight for decades. Tools and planning via local government will make this private sector project feasible and catalyze future investment on neighboring parcels currently held by private landowners.

This size of conference facility has long been wished for in downtown Missoula. This project will enhance economic development in the area by bringing opportunities for businesses to schedule large-scale events in Downtown Missoula. Business and recreational visitors bring almost $490 million to Missoula County annually. Nearly $77 million of that goes to hotels and motels. While here, visitors eat at local restaurants, shop at retailers, experience entertainment, have their cars serviced and hire outfitters and guides to recreate on our beautiful rivers and open spaces. Local businesses will benefit from this added economic development investment.

After decades in the making, we are making this happen, Missoula!

To read an article about the project, click here: https://missoulacurrent.com/riverfront-triangle-missoula/

Or visit the City of Missoula’s Engage Page here: https://www.engagemissoula.com/riverfront-hotel