A piece of Helena's most historic real estate is under new ownership.

Earlier this spring, brothers Matt and Pat Dalton closed on the Colwell Building, at the south end of the Downtown Walking Mall across the street from the library.

The building sits adjacent to what's widely considered to be the spot where gold was first discovered here on July 14, 1864. The discovery site, which gave rise to the mining camp and eventually our state capital, actually lies just west of the Colwell Building in what's now the parking lot between the Gulch and Park Avenue.

The Colwell Building came shortly thereafter, reaching completion in 1887. Like many downtown buildings, its long, narrow profile fits the boundaries of the mining claim on which it sits.

The Daltons recognize the importance of the building to the city's history.

"We appreciate that fact and we are committed to improving the building within the context of that history," Matt Dalton said. Many original fixtures remain, including solid oak doors.

Current business tenants include the Smokin' Pit barbecue restaurant and the real estate offices of Bruce Swinney. Swinney is moving out in September, and Dalton said he's not firm on a replacement tenant.

Dalton said he expects to maintain the building's mixed-use format, with commercial space on the ground floor and apartments above.

"We believe in the concept of living, working, eating and recreating in that downtown area," he said.

Eventually, the 10 apartments upstairs could be turned into a smaller number of condos. Each apartment unit now includes space on both the second and third floors of the building.

There's also an unused, unfinished basement beneath the building that Dalton said will be upgraded and put to use.

In a separate transaction, the Dalton brothers also recently closed on the Lone Tree Health Mine in Boulder, one of several radon mines in the area. The mine is closed, but the Daltons are turning a number of buildings on the property into apartments and houses for rent.

Glasgow natives, the Daltons attended Carroll College and have been in the appraisal business in Helena for 13 years.

We'll be back? Helenans who sent postage-paid postcards back to Sam's Club saying they would welcome the warehouse chain to town received a letter this week thanking them for their support and assuring them that the company may still build here someday.

"We continue to review the possibility of building a Sam's Club in Helena, however at this time, have removed our application from the city's approval process," it said in part. The letter then urged Helenans to continue shopping at Sam's in Great Falls.