MISSOULA - Several new businesses opened up shop in downtown Missoula in 2022.
According to the Downtown Missoula Partnership, a total of 32 new businesses opened and more than $12.5 million was invested in commercial projects.
The number of new businesses is the second-highest number of openings since the first Downtown Master Plan was created in 2008-09. The Downtown Missoula Partnership also reports that seven downtown businesses closed their doors in 2022.
Among the projects in 2022 were major renovations at the Holiday Inn Downtown and Riverfront Square as well as investments by Stockman Bank and repair work done by the Boone & Crocket Club,
Downtown Missoula also saw $6.6 million in residential investments in 2022, down from $66 million in housing projects that started in 2021, according to a news release.
There were 16 different housing projects in 2022, four of which were new construction. A pair of large housing projects — Villagio and Trinity — began construction in 2021, and should be ready for occupancy this year.
“Despite the pandemic and changing economic conditions, Downtown Missoula continues to be a major attraction for investment, commercial endeavors, and residential development,” said Charlie Beaton, the Chair of the Downtown Business Improvement District Board of Trustees.
