Quick Answer: What You Need to Know

The Deal: $4 million sale to Averill Hospitality (Whitefish-based developer)

The Property: Nearly 2-acre Riverfront Triangle downtown riverfront site

The Timeline: 40 years of failed attempts, finally resolved June 2025

The History: Deemed blighted in 2007, urban renewal district established 2008

The Significance: 7th attempt at development, first to succeed

Four Decades of False Starts

The Riverfront Triangle property has haunted Missoula development dreams for generations. For 40 years, the nearly two-acre plot sitting on the Clark Fork River waterfront has remained stubbornly vacant, a gap-toothed reminder of unrealized potential in the heart of downtown. Six previous development attempts came and went, each promising transformation and each failing to deliver.

The property was officially deemed blighted in 2007, leading to the establishment of an urban renewal district in 2008. Yet even with city support and infrastructure investments, developers repeatedly walked away. The reasons varied—financing challenges, market conditions, changing visions—but the result remained the same: a vacant lot where Missoula envisioned vibrant riverfront activity.

For locals, the Riverfront Triangle became something of a running joke, a "someday" project that never seemed to arrive. But behind the scenes, the Missoula Redevelopment Agency and city officials kept working, refining the vision and waiting for the right partner.

The Averill Hospitality Partnership

Enter Averill Hospitality, a Whitefish-based development company with a track record of successful Montana projects. In June 2025, they signed a $4 million deal to purchase the long-troubled property, finally breaking the decades-long curse that had plagued the Riverfront Triangle.

Averill Hospitality brings experience in hospitality and mixed-use developments across Montana. Their portfolio includes successful projects that blend with local communities while bringing new amenities and economic activity. For Missoula, their involvement signals serious commitment—they have the capital, experience, and local knowledge to see this project through.

The deal represents more than a property transfer; it marks the culmination of persistent effort by the City of Missoula and the Missoula Redevelopment Agency. After countless meetings, negotiations, and setbacks, the seventh attempt succeeded where six others had failed.

What Comes Next: Development Plans

While specific details of Averill Hospitality development plans are still emerging, the project is expected to bring much-needed hotel and hospitality space to downtown Missoula riverfront. The nearly two-acre site offers significant potential for a signature development that could anchor the western edge of downtown.

The location is prime real estate—sitting directly on the Clark Fork River with views of the Higgins Avenue Bridge and easy walking access to downtown shops, restaurants, and the University of Montana. Any development here will enjoy natural beauty, proximity to the river trail system, and the energy of downtown Missoula.

Construction timelines and specific project details will likely be announced in the coming months as Averill Hospitality finalizes their plans and secures necessary permits. For now, the milestone of a signed deal and committed developer marks a historic turning point.

Why This Matters for Missoula

The Riverfront Triangle development matters for several reasons beyond simply filling a vacant lot. First, it represents confidence in Missoula future—Averill Hospitality $4 million investment signals that experienced developers see opportunity in the Garden City despite economic uncertainties.

Second, the project will bring new economic activity, construction jobs, and permanent hospitality positions to downtown. It expands the tax base and supports the businesses already invested in the area. Third, it finally completes a decades-old civic goal, removing a long-standing blight and replacing it with productive use.

For residents who have watched the vacant lot sit empty for years, the development represents progress and hope. The Riverfront Triangle will transform from a symbol of failed potential to a realized vision of what downtown Missoula can become.

Community Reaction

Local reaction to the announcement has been overwhelmingly positive. Business owners near the Riverfront Triangle have expressed optimism about increased foot traffic and the halo effect of a major new development. Community leaders have praised the persistence of city officials and the Missoula Redevelopment Agency in finally getting the deal done.

Some residents have raised questions about traffic impacts, parking, and how the development will integrate with existing downtown character. These concerns reflect the community investment in Missoula unique identity and the desire to ensure new development enhances rather than overwhelms what makes downtown special.

The consensus, however, is clear: after 40 years of waiting, the Riverfront Triangle is finally moving forward. For a community that values both progress and preservation, finding the right balance will be key as this long-awaited project takes shape.

Local Resources

Missoula Redevelopment Agency: Information on urban renewal projects

City of Missoula Development Services: Permits and project updates

Downtown Missoula Partnership: Business resources and community news

Clark Fork Riverfront Trail: Access the riverfront recreation area

FAQ

Q: When will construction begin? A: Timelines will be announced as Averill Hospitality finalizes plans and secures permits.

Q: What type of development is planned? A: Hospitality-focused project, likely including hotel space and related amenities.

Q: Why did previous attempts fail? A: Various reasons including financing challenges, market conditions, and changing development visions.

Q: How big is the Riverfront Triangle property? A: Nearly two acres along the Clark Fork River in downtown Missoula.

Q: Will there be public access to the riverfront? A: Specific details pending, but riverfront access is typically required in such developments.