Missoula approvesagreements for $150 million public-private development
MISSOULA, Mont. - During Monday's regular City Council meeting the city of Missoula approved four agreements that put a $150 million development on final approach to reality.
The agreements are between the city, the Missoula Redevelopment Agency and Hotel Fox Partners. They outline a public-private partnership for development, ownership and operation of the Riverfront Triangle, on the downtown business district's west end.
Riverfront Triangle is bordered by Orange Street, West Broadway Street and the Clark Fork River.
When complete, the $150 million project will include guest lodging, a 60,000-square-foot conference center, a parking garage, office and retail space and residential housing.
Under terms of the agreements Hotel Fox Partners will have 18 months to prepare plans, secure financing and apply for building permits.
The development would have no impact on Missoula's general fund or general obligation taxes.