Wednesday, April 4, 2007

Ketchum to acquire Mountain West property

Half block in downtown to become town plaza

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By GREG STAHL
Express Staff Writer

The city of Ketchum will soon purchase the Mountain West Bank property on Sun Valley Road. Combined with the adjacent city-owned parking lot and park, the properties will collectively become a town plaza linking the Fourth Street Heritage Corridor with Sun Valley Road. Photo by David N. Seelig

A new town plaza connecting Fourth Street and Sun Valley road in Ketchum will soon become a reality.

The city of Ketchum, the Ketchum Urban Renewal Agency and Mountain West Bank on Monday announced the pending sale of the Mountain West Bank building to the Ketchum Urban Renewal Agency. The purchase price has not yet been disclosed.

Ketchum Mayor Randy Hall expressed his appreciation for the spirit of cooperation achieved in the transaction.

"The sale, when completed, will enable Ketchum to realize the dream of the Downtown Master Plan for a town plaza on East Avenue from the Fourth Street Heritage Corridor to Sun Valley Road as the centerpiece of the downtown revitalization," he said.

Mountain West Bank will occupy its current site until it relocates next summer to a new location on the corner of Sun Valley Road and Leadville Avenue, just one block west of its current location.

Jon Hippler, CEO of Mountain West, voiced his enthusiastic support for the new town plaza.

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"All of Mountain West Bank is looking forward to its new state-of-the-art branch in the new building and to continuing to provide outstanding service to its many friends and customers," he said.

The new Mountain West building will include a retail store on Leadville Avenue and nine penthouse residential units. The Ketchum Planning and Zoning Commission approved designs for the new commercial building at its March 26 meeting.

Sun Valley-Ketchum Chamber & Visitors Bureau Executive Director Carol Waller applauded the pending purchase and pointed out that it is a longstanding goal nearing completion.

The city traded land with the Wells Fargo bank group to obtain the adjacent property, which is now a city park. Wells Fargo built a new branch office on the Main Street land it acquired through the deal.