MISSOULA - A 2.5-acre parcel adjacent to the Bitterroot Branch Trail could be added to the Southgate Crossing property purchased by the city late last year.
The Missoula Redevelopment Agency's board of commissioners recommended the acquisition last week and authorized the $1.3 million asking price. The City Council must accept and authorize the purchase and is expected to do so early next month.
“The amount is based on the price the seller is offering it for,” said MRA project manager Annette Marchesseault. “The city would bridge this purchase and include the property with the balance of the Southgate Crossing property for sale to the developer.”
The city purchased 13 acres prized for its redevelopment potential near Southgate Mall last November. In August, the city followed by partnering with Miramonte Companies to head the redevelopment, which is expected to include a mix of uses, from housing to commercial.
Watch previous coverage: City of Missoula selects developer for Southgate Crossing Property
At the time, the adjoining 2.5 acres stood as an outlier. Its acquisition would expand the redevelopment opportunities and move the city closer to addressing the area's street grid.
“There is a significant easement on this that lets us connect to the (Mary Avenue) roundabout and extend at some point in time Johnson Street south to Brooks,” said MRA Director Ellen Buchanan. “It's an opportunity we had not anticipated.”
The Midtown Master Plan describes the collection of parcels as a “transition area with the widest mix of uses that includes office, manufacturing, retail, restaurants and residential.” It also calls for “dense multifamily housing types,” parks, connectivity and public plazas, among other things.
Tollefson Properties LLC is the current owner of the 2.5-acre parcel.
“This is being offered to the city at a lower square foot price than what we paid for the property to the south,” Buchanan said.
The city is currently conducting due diligence on the parcel and expects the initial appraisal to be completed in October. Miramonte has agreed to expand its partnership with the city to redevelop the full 15.5 acres.
“That (2.5-acre lot) was an awkward missing piece to the redevelopment of this area,” said MRA board member Tasha Jones. “This is a great opportunity.”
