KVRR Local News
January 26, 2021
FARGO, N.D. The former Kmart on South University Drive in Fargo along with lot-partner Burger King could be meeting the wrecking ball.
GFI Dakota Development, the property owner, and Enclave Development want to build 170 apartments along with commercial buildings, including a grocery store.
Fargo city commissioners approving a request to submit a tax increment financing application to determine if the $35 million project would be a go.
The estimated TIF would be about $2.5 million.
Enclave is also proposing payment in lieu of tax breaks known as a PILOT to include 34 affordable apartment units.
Kmart has been closed for more than a year.
Fargo, ND, USA / Y94
Jan 26, 2021 1:19 PM
FARGO (KFGO) – The first step has been taken in the proposed redevelopment of the former Kmart location on University Drive S.
The City Commission approved a request to submit a tax increment financing application to the city financial advisor to determine if the $35-million project would be a go. The estimated TIF would be about $2.5-million.
The plan includes demolition of the vacant store and Burger King on the nearly 12-acre site. GFI Dakota Development, the property owner, and Enclave Development want to construct 170 apartments along with commercial buildings, including a grocery store.
Enclave is also proposing payment in lieu of tax breaks known as a PILOT to include 34 affordable apartment units. Kmart has been closed for more than a year.
Gleason said more than 15 different site plans have been considered. Requesting a TIF is “really kind of the first baby step in the process,” he said.
Gleason said that if all goes well, work on the project could begin by late summer or early fall.
The 93,000-square-foot Kmart building, built in 1963, has been mostly empty since the big box retailer closed in late 2019. Dakota Tire is still operating in part of the building. A Burger King, built in 1976, remains open in a rented spot along University. But a strip mall on the south side of the property was razed several years ago.
Anyone who has lived in Shakopee knows their city is growing by the day. And even though 2020 was the year of exceptions, this year, many major developments are still pressing on with plans to build in Shakopee. Here are some developments to keep an eye out for in 2021.
Canterbury Commons
The Canterbury Commons development will continue to get bigger and busier in 2021 with the addition of new headquarter space for Greystone Construction.
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Greystone, a construction company based in Shakopee since 1987, will move its current headquarters off Marschall Road to a planned 26,000-square-foot office building, which was expected to break ground this fall.