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Stillwater Building strikes deal with new parking garage in down - KTVQ.com | Q2 | Continuous News Coverage | Billings, MT

Stillwater Building strikes deal with new parking garage in downtown Billings

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BILLINGS - The owners of the Stillwater Building announced Wednesday a major new parking garage development in downtown Billings.

EEC Construction announced the new owner of the existing Diamond Parking lot at 317 N. 26th St. is planning to build a new six-level, 430-space lot next to the former James F. Battin federal courthouse, now called the Stillwater Building.

A skybridge will be built to connect the garage to the Stillwater Building at 2601 Second Ave. N., which is being redeveloped for office and commercial rental space. The garage would be primarily for tenants of Stillwater and their guests with some spaces available for the public, according to Leif Welhaven, EEC's director of business development.

Welhaven did not release the cost of the parking garage but said he expected it would be funded with private dollars.

A representative of Diamond confirmed the sale but he and Welhaven did not immediately identify the buyers. According to Montana Cadastral, a state property database, the garage is owned by Dillon-based CRMX-223 LLC.

That company is registered at the same address as American Equity Exchange, a firm that specializes in real-estate transfers.

EEC bought the building at a foreclosure auction last year from the former owner, Kono Corp. The firm announced this summer it had removed all asbestos in the aging structure and was hoping to land its first tenant by the end of the year.

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