Jim Gilmour, the city’s strategic planner, released proposals last week from seven developers from across the region who came up with plans for housing and commercial projects on three city plots of property.
The projects, which show a growing local and regional interest in the booming city center, range from strictly residential developments to mixed-use structures to a high-end hotel plan.
Gilmour said he referred the proposals to the city’s Tax Exemption Review Committee and Renaissance Zone Authority for their recommendations before submitting them to the City of Fargo Commission for their final decision, presumably. in January.
The city’s strategic planner said he was surprised at some of the proposals presented earlier this month that he did not expect.
Projects could start later next year and most would involve some type of property tax relief, with some seeking financial assistance through the new District Tax Increment Financing covering the east side of downtown and potentially help with certain phases of property development.
Here are the proposals for the three property plots:
1 Second Street North
This riverside property is located along Main Avenue and Second Street, next to the roundabout and near the Veterans Memorial Bridge.
Three local businesses have come up with plans for the property that serves as the gateway not only to Fargo but also to North Dakota from Minnesota.
So the projects all offer unique designs, with residences offering spectacular river views, and would bring the highest prices for the land.
The three offers are:
- Beyond Shelter Inc. and Foss Architecture and Interior of Fargo: The nonprofit that has developed another 286 affordable senior housing units in Fargo offers 51 units. Five-storey apartment building also for the elderly, although with some commercial space on the first floor. The $ 16.3 million structure would include federal housing assistance to keep apartments affordable for low-income residents. Underground parking lots and other closed parking lots would be offered. They offered the city $ 650,005 for the land.
- EagleRidge Development Co.: The Fargo company offers a seven-story, $ 35 million building with 57 condos for sale, three floors of office space and one floor of commercial space. The condos would be on the top five floors. Other amenities are roof terraces and second level parking. EagleRidge has developed apartments, homes, and commercial space in cities across North Dakota. The company offered $ 1.5 million for the land.
Another unique design is offered by Eagle Ridge Development Co. of Fargo with its plan of condos for sale as well as office and commercial space at 1 Second Street South and Main Avenue. Render submitted / Eagle Ridge Development
- Epic Enterprises: The West Fargo-based company is proposing to add another mixed-use building to The Gateway structure along Main Avenue, which opened in October, and The Arch, which is under construction next door. This new, seven-story, $ 23 million building would have commercial space on the first floor, 37 apartments on the third and fourth floors, and 30 condos for sale on floors five through seven. Parking would be on the second level. Already the Gateway, which houses the Fryin Pan restaurant, has 53 apartments while the new L-shaped arch will have seven floors with 30 apartments and 34 condos with additional commercial spaces. The company offered $ 1.18 million for the land.
401 Third Avenue North
The abandoned structure of the city’s former public health unit, which includes a parking lot, would be razed and replaced with a new structure in the heart of downtown. The building has been empty for several years and was recently used as a temporary municipal office space.
There were two offers for the property:
- GreenAcre companies and Lloyd companies: The Sioux Falls-based developers are reportedly installing a combination of high-end hotels and residential buildings on the site, which also borders Fourth Street. The six-story structure would include 115 hotel rooms and 108 apartments. The firms said they were in talks with Marriot about what could be an upscale AC hotel and would hire the same architectural firm, ESG Architecture of Minneapolis, that designed the hotel’s interior. Jasper neighbor. The plan would include a restaurant / lounge, ballroom and underground parking. Their bid for the property was $ 500,000.
This is the proposal from two Sioux Falls-based companies for the city’s former public health building at 401 Third Avenue North. It would have a hotel / apartment combination structure. Render submitted / ESG architecture
- MBA investments: The Fargo-based architectural and development firm offers a five-story, 68-unit apartment building. The company said it was not planning any commercial space to avoid competing with existing businesses and reduce the need for on-site parking. The $ 12 to $ 13 million project would instead offer a gated parking lot on the first floor. The bid for the property was also $ 500,000.
This is what the housing project proposed by MBA Development of Fargo could look like at 401 Third Avenue North. The building would include a closed parking lot on the first floor. Render submitted / Architecture MBA
419 Third Street North
The old one-story school district warehouse is expected to be demolished to make way for what were two tenders for large residential projects along the river.
Both deals came from what has been called a public utility company that works on affordable housing and the other from the long-standing staple of downtown development, the Kilbourne Group.
The two offers are:
- Authentic accommodation: The National Society, with an office in St. Paul, sent a lengthy letter outlining their affordable housing plans, a long-term perspective and environmental considerations. The $ 51 million project would include 181 units with views of the Red River. They would seek federal and state assistance for housing finance to make the units more affordable. The company suggests paying for the land at its appraised value using a contract against deed.
This is a preview of what a proposed Authentic Housing housing project along the City River on the east side of downtown Fargo at 419 Third Street North could look like. Submission submitted / Authentic accommodation
- Kilbourne Group: The Fargo company, which has focused on the downtown area for the past 15 years, offered three options for the property, including a 75-unit project for $ 15 million, a 115-unit structure for $ 25 million dollars and a massive $ 67 million project that would also involve the purchase of the former Fargo School District Administrative Office Building next door. The company said the apartments would offer spectacular views of the river to the east and the downtown skyline to the west. The company’s offer is $ 162,984 for the land. They said the school district office property is listed at $ 4 million.
This is a preview of what the Kilbourne Group of Fargo is offering along the riverside on the east side of dwontown. The company offered three options for the property. Render submitted / Kilbourne Group