Funding approved for demolition of former Memorial Park apartments
HELENA – The City of Helena has approved funding for the demolition of the former Memorial Park Apartments located on East Lyndale Ave. The building has been vacant since 2016.
On March 14, the Helena City Commission approved $175,000 in Tax Increase Funding (TIF) to be used for the demolition of the apartments. Funding is available through the city’s Railroad Urban Renewal District.
The beneficiary is the Bell Hotel who will use the money for the demolition and reduction of the structure of the apartment. They are working on a deal with the owner to redevelop the site and build a boutique hotel.
“We are excitedly grateful for the incredible support from the Railroad District and the Town of Helena – we will need all the help we can get to complete this grassroots project,” adds Ashly Tubbs, co-founder of Bell Hotel, LLC. “Cleaning up the site is an exciting first step that benefits the whole community and one that we can all be proud of.”
The demolition and reduction project is expected to be completed this spring. Site redevelopment is expected to follow immediately with an expected completion date of late summer 2023.
“I am delighted that the City has had the opportunity to support the proposed development on the former Memorial Park Apartments property,” said Helena Mayor, Wilmot Collins. “TIF funds are a great resource for Helena’s businesses. This is an important project for the community and exactly the type of redevelopment for which we hope to use TIF funds. »
The funding request was presented to the Railroad Urban Renewal District TIF Advisory Board in December 2021. The board unanimously approved the recommendation for funding of $175,000, which amounts to the applicant providing matching 52% for the demolition phase of the project.
“This funding is a stepping stone that launches the Bell Hotel to success from the start,” said Karli Mosey, co-founder of Bell Hotel, LLC.