million. Recently, he had a friend who works in real estate estimate the value of his home. “They came back with a certified market analyses that came in around $650,000,” Hubbard says. Hubbard understands that a variety of forces have contributed to the declining value of his home, not the least among them a fluctuating real estate market. But he can’t help but see the Circle H’s development woes as partially responsible. “The big problem is we live basically on an incomplete development,” Hubbard says. Hubbard is friendly with Jay Raser. As with Raser, Hubbard blames Seale for the development’s problems. Circle H Landowners Association President Dallas Neil strikes a more conciliatory tone when discussing the project. “We know it’s been tough times for developers in general,” Neil says. Neil played professional football for the Atlanta Falcons and New York Jets. He now owns Reserve Street’s Lifestyle Fitness and lives at the Circle H. He says it would be nice if Seale paid his landowners dues—the landowners association has filed a lien against Seale’s property for failing to do so. Neil also says that Circle H residents are not happy about the gravel pit. “If you want to talk about where homeowners are pissed, look at the gravel pit,” he says. “We have contacted everybody we can to get that removed.” Ultimately, however, Neil says that the Circle H Homeowners Association is con-
tinuing to work with Five Valleys Land Trust to be a good steward of the land. “We have been able to manage the property well,” he says.
I
nside the West Pointe subdivision, just past the home that Cal Pickens uses as an office, the road ends abruptly. Both Macarthur Drive and the roads up by “the Ranch” feel incomplete, with pavement leading to empty lots and open land. In 2001, the county approved 240 units for West Pointe. Seale estimates that 22 have been built. It’s hard to say who’s been hurt the most by the Circle H’s downfall. There are the homeowners who were promised amenities that never came to be and must hope that they recoup some value in their property. There’s also Missoula County, which has a stake in the development’s dealings. Circle H is currently delinquent on more than $23,000 in back property taxes. As for Raser, he says he’s trying to move on. Today, he’s 64 and a self-employed architect in Missoula. During one interview with the Independent, he expressed unease at the prospect of having the theft charges aired publicly. He completed a deferred prosecution agreement in 2010 and the case was dismissed. He’s got a good reputation in this town, he says. He’s not a criminal. Plus, he lost money just like many others, including his original $50,000 investment.
Seale estimates that the Circle H Partners are out roughly $3 million thus far. All of the money generated by the project, Seale says, went back into the development. He makes a point to emphasize that the lawsuits and allegations from people like Raser don’t reflect the broader reality—the fact that the Circle H has pumped a significant amount of money into the Missoula economy. With a little help, he says it could again. “We’re still hoping we’ll persevere,” Seale says.
Over the years, Seale has accumulated 10 filing cabinets full of Circle H plans, diagrams and charts. The project, along with the myriad personal and legal skirmishes, has consumed a significant part of his life. “It’s such an upsetting thing,” he says. “You stand to lose a lot of your money, a lot of your dreams. You get so pressured that your head starts to spin.” Aiming to protect the remaining Circle H partners from bill collectors, Seale initiated bankruptcy proceedings in May
2012. Months later, he aborted the bankruptcy because he still wants to salvage the project. He’s currently trying to negotiate with Wells Fargo to avoid foreclosure. Ideally, Seale wants to bring in outside investors so that the Circle H may one day become something close to what he originally envisioned. “The story’s not over,” he says. “I haven’t given up on the dream of Circle H.” jmayrer@missoulanews.com
Photo by Eric Oravsky
missoulanews.com • January 24 – January 31, 2013 [17]