Daily Inter Lake | November 3, 2019
In anticipation of replacing the railroad tracks with the Kalispell Trail in the Kalispell Core Area, Montana West Economic Development and the city of Kalispell have placed new, detailed development information and an interactive map featuring properties for sale on the www.KalispellCoreAndRail.com website.
The interactive map features property details and contact information allowing potential developers and investors to visualize property location and opportunities to combine two or more properties in to one redevelopment site. Also available is a printable profile of the Kalispell Opportunity Zone for potential investors.
“The city of Kalispell and Flathead County Economic Development Authority have worked tirelessly for years to bring the community to this point for new investment,” said Kim Morisaki, director of business development and marketing at Montana West Economic Development. “In the next 12 to 18 months properties that were once hemmed in by railroad tracks will be opened up to access the Kalispell Trail. We are already seeing developers begin to purchase land with plans to invest in mixed-use development.”
Property owners or real estate professionals who would like their Kalispell Core Area property included on the interactive map should contact Morisaki.
This new map highlights the Kalispell Opportunity Zone, New Market Tax Credit area and the Westside Tax Increment Finance District. Kalispell’s Opportunity Zone was designated in 2018. This U.S. Treasury designation provides tax benefits to those investing capital gains in a business or commercial real estate within the zone’s boundaries. These investments must be made in an Opportunity Fund, which then makes long-term investments. This program and several other incentives are explained on the website and in presentations that Morisaki has been providing throughout the Flathead Valley to interested parties.
Also available on the website is sale and lease information for Glacier Rail Park, which is owned by Flathead County Economic Development Authority. Businesses requiring rail service are encouraged to contact Jerry Meerkatz, president and chief executive office of both the Authority and Montana West.
The community can keep up with the Kalispell Trail’s design plans and construction progress by checking the website, which is updated monthly or by contacting Katharine King, Assistant Director of Community Development at the city of Kalispell.
The city of Kalispell and Flathead County Economic Development Authority have invested $40 million in the redevelopment of the Kalispell Core Area, the Glacier Rail Park and creation of the Kalispell Trail. This public/private partnership has relocated two historical, rail-served businesses to Glacier Rail Park and replaces the train tracks through the heart of the city with a trail and linear park. This effort will unencumber over 45 acres of vacant or underutilized property that has been rezoned to encourage development, bringing new private investment in commercial, retail and residential buildings.