New Development Coming Soon To Downtown EGFEAST GRAND FORKS, MN (WDAZ-TV) - City-owned land in East Grand Forks will soon see some development. The vacant lot at 4th Street NW and Demers Avenue could be home to either apartments, retail or both.
EAST GRAND FORKS, MN (WDAZ-TV) - City-owned land in East Grand Forks will soon see some development. The vacant lot at 4th Street NW and Demers Avenue could be home to either apartments, retail or both.
That vacant lot has sat empty now for about ten years. The site used to be home to Red River Ford and a Holiday Station Store before the city took ownership of the land.
"We're going to do a broad based request for proposals and do some mailings and get some publication out there," East Grand Forks Economic Development and Housing Authority Executive Director Jim Richter said.
The East Grand Forks city council voted unanimously to start taking proposals to develop the vacant lot at 4th Street NW and Demers Avenue. The lot is about 48,000 square feet with a market value of just under $1,000,000.
"Essentially what we're trying to do is continue the development from downtown and the corridor on Demers Avenue all the way out to Gateway east," Richter said.
The hope is for a combined residential and commercial building project.
"Grand Forks downtown has been successful in developing some of that area and redeveloping the area and it has turned out really well," Richter said.
The final draft of the RFP offers development incentives. The city could use a package of Tax Increment Financing and interest loan funds to provide financing gaps.
"And some of that is going to be dependent upon what proposals we do receive and based on what developers ideas are that we're going to react to those and say 'okay here's what we can help you with'," Richter said.
The deadline to submit proposals is February 1st. Developer presentations and interviews with the review committee will start February 8th.