Two years ago, local developers were full-steam ahead on a project to refurbish and convert the old Libby High School into an apartment complex.

But now, the property, which includes about 1.7 acres of land, is on the market. It is listed at just a smidgen under  $1.1 million.

The property, also known as Libby Lofts, is solely owned by Zach and Tracy McNew, also known as ZT Development.

“We recently acquired full ownership of the property and we’re open to all options,” Zach McNew said in a Monday phone interview with The Western News. “We’re looking to sell it outright, but we’re also still seeking partners. We’ve invested a lot in the property so far, but we decided to put it on the market and see if anyone is interested.”

The McNews say their goal is to see the building restored through historic preservation and adaptive reuse, transforming a long-vacant structure into something that benefits the entire community. 

“This building has been part of Libby’s story for more than a century,” said Tracy McNew. “Our hope is to see it become something the community can be proud of again.”

A bowed out wall on the east side of the building has been repaired, but a large hole where heavy snow collapsed the roof in 2017 still remains. Further complicating matters, and increasing costs, was the fact that the building was uninsured at the time.

The owners have invested in stabilizing the structure, including rebuilding a damaged exterior wall and replacing roof rafters, along with engineering and other planning work needed to move the project forward. 

The recent hopes of developers haven’t panned out as well as they would have liked. The Brick Briar Development Group (Bruce Weatherby and Joan Oakland) are no longer involved.

They also sought a $650,000 National Historic Preservation Grant from the state of Montana as well as  more than $100,000 from the Libby Economic Development Fund.

But none of those materialized.

However, negotiations involving former project partners and a buyout process caused the project to miss a recent construction season. With ownership now consolidated, the McNews say they are eager to restart momentum. 

“We’ve already put a lot of work into protecting the building,” said Zach McNew. “Now that the ownership transition is complete, we’re hopeful the next phase can move forward.”

The large brick building on East Lincoln Boulevard next to the Memorial Center, built in 1917, served as the high school, then elementary school and finally the home of the Lincoln County Campus of Flathead Valley Community College before it moved out in 2000. It has been on the National Register of Historic Places since 2008. 

At the time, Northwest Properties (Scott Curry and Eric Barry) bought the property with the goal to turn the building into condominiums and office space.

A month later, tragedy struck when Berry died following a motorcycle accident near Marion. Despite it, Curry told The Western News then that spaces on the top floor for condominiums were virtually sold out.

Nevertheless, Berry’s death meant his estate was in probate, investor interest waned and renovations were stalled. Curry’s hopes of having the work completed early in 2009 were ended.

He blamed a slow-moving judicial system.

“The judge didn’t make a (prompt) decision of who was to own Libby Lofts,” Curry said then in a December 2010 story in The Western News. “It got to a point where people involved with Libby Lofts didn’t want to put money into it.”

The McNews said in order to help attract the resources and expertise needed to complete a complex historic redevelopment project, the property was recently listed for sale, which has drawn attention from community members who have noticed the large “For Sale” sign now posted on the site. 

The McNews say the listing is intended to generate interest from outside investors or development partners who have experience with historic rehabilitation projects. 

“We’re open to several paths forward,” Tracy McNew said. “That could mean bringing in a development partner while retaining some ownership, or potentially selling the project to a developer who has the capacity to complete the redevelopment.” 

Preliminary concepts envision the historic school building being converted into approximately 26 residential loft-style apartments, with the potential for other compatible uses depending on what ultimately works best for the community.

Tracy McNew said that across the country, the redevelopment of historic buildings has played an important role in helping rural communities revitalize aging structures, bring new housing to downtown areas, and preserve important pieces of local history. 

Historic rehabilitation projects can help preserve important community landmarks,  remove long-standing blighted or vacant buildings, create new housing opportunities, support downtown businesses by bringing more residents into town centers, and strengthen community pride and identity. 

The McNews say these are the kinds of outcomes they hope the Libby Lofts project can help achieve. 

“Restoring this building would benefit everyone in Libby,” Tracy McNew said. “It would preserve an important part of our history while helping bring new life and activity to the area.”

Because the building is listed on the National Register of Historic Places, the project may qualify for historic preservation incentives including the Federal Historic Rehabilitation Tax Credit and the Montana Historic Tax Credit, programs that have helped make similar redevelopment projects possible in communities across the country. 

The owners say they are open to working with experienced developers who share a commitment to preserving the building while creating a sustainable project for Libby.  

“This project will only succeed if it works for Libby,” said Zach McNew. “We want to see something here that improves the community and honors the history of the building.” 

Community members or development partners interested in learning more are encouraged to reach out.

    A bowed out wall has been fixed, but the hole in the roof still remains in the Libby Lofts building, also known as the old high school. It is for sale with a $1 million price tag. (Scott Shindledecker/The Western News)