Plans Move Ahead for New Development in Downtown Fargo

Construction could start on the parking garage next month with completion next fall.

FARGO, N.D. (KFGO) – Fargo city commissioners have approved a public-private development agreement for a long talked about mixed-use project at the corner of Broadway and Fourth Avenue North.

The Mercantile Building project will be built on the site of the former Goodyear store. It will include a six-story apartment building with retail/commercial space built around a parking garage, similar to the Roberts Commons project several blocks away.

City Strategic Planning Director Jim Gilmour says the parking garage will have 369 parking spaces owned by the city. 15,000 space of commercial space, 100 apartments, and 9 for-sale townhomes.

The wrap-around apartment building project involving the Kilbourne Group will cost $20-million. The townhomes are being developed and financed by Tom Smith, the owner of the adjacent Great Northern Cycle store.

The city-owned parking garage is estimated to cost $12 to $13 million and will be financed by bonds, a loan, and paid off by an increase in parking rates at existing city owed parking sites, the sale of a city-owned parking lot at Main Avenue and Broadway and other sources.

Construction could start on the parking garage next month with completion next fall.