Downtown apartment buildings have become a hit across the land, including in Grand Forks. With an action Tuesday, East Grand Forks is joining that trend.
EGF's Economic Development Housing Authority approved a package that will produce a four-story, 39-unit apartment building on the corner of DeMers Avenue and Fourth Street, two blocks from City Hall and two blocks from the Boardwalk.
The City Council needs to make the agreement official, but resistance is not expected.
"Looking at restaurant row and the entertainment district, this fits in very, very well," said Barry Wilfahrt, president and CEO of the Grand Forks and East Grand Forks Chamber of Commerce. "It builds density downtown."
One-half of that vacant lot, last home to a Holiday gas station 11 years ago, was once offered free to the Chamber if it would relocate to EGF. But the offer was refused.
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"We didn't think that was best use of that property," Wilfahrt said. "We thought a better use would be a mixture of housing and retail."
The site also will have 6,500 square feet of commercial space. But the apartments -- which will be the tallest building in the city -- will be the focus.
"We see it as a bridge between the north and south ends of town and as a focal point of downtown," said Chip Shea, an EDHA member. "It also ties in with the Grand Forks downtown.
"If they like apartment living over there, they'll come over here, too. We also think it will spawn other activity."
EDHA members agreed unanimously with Shea, approving a package that included free land, valued at $98,000. The package also includes a 10-year loan of $250,000, with 3.1 percent interest and a $750,000 Tax Increment Financing capital grant, which is basically a reimbursement of property taxes.
The project's expected cost is $5.4 million. Partners include Dakota Commercial and Development, Community Contractors and JLG Architects.
Expectations are for work to begin in August and be completed by September 2013.
Reach Bakken at (701) 780-1125; (800) 477-6572, ext. 125; or send email to rbakken@gfherald.com .
