Broadway in downtown Fargo will again see movement forward as the Moose and Dixon buildings are revitalized. The buildings’ first floors will be for retail use; the second floors are planned to be renovated for 11 contemporary one-bedroom and efficiency apartments. Construction is scheduled to begin within six weeks on these vacant buildings at 305 and 307 Broadway, just south of the Fargoan, and across the street from the Fargo Theatre.
Urban Plains Land Company owns the buildings. “We’re excited to renovate these historic buildings and allow them to contribute to the growing momentum of downtown Fargo,” says Matt Baasch, real estate developer for Urban Plains. “We’re open to suggestions for use and would love for someone to come up with innovative way to celebrate the history of these buildings, even possibly including office or business space on the 2nd floor instead of apartments,” he said.
Urban Plains has been working with Fargo city planners to re-purpose the Moose and Dixon into useable space. “This project will expand the very active retail cluster in that area and add to the diversity and quantity of housing. It’s a great project,” says Bob Stein, Fargo City Planner.
Terry Stroh will serve as the architect and construction manager for the project. Apartments will be upscale and vary in size from 500 to 800 square feet. Underground parking will be available for residents. “The Dixon-Moose buildings are in the hottest part of downtown Fargo. We’re looking forward to creating some very unique spaces,” says Stroh. The apartments should be ready for occupancy in September 2011.
The retail space totals 6,671 square feet, which would be divided into spaces for two to four retailers. Interested retailers should contact Brent Kuehne at Goldmark, 701.239.5849. Download the Goldmark Moose/Dixon Building Lease Brochure.
* A business that leases space in the Moose or Dixon may be eligible for a full exemption from North Dakota income tax for 5 years!
* Property taxes charged in CAM will be based on land-only for 5 years!
Renaissance Zone Act Tax Incentives
The North Dakota Renaissance Zone Act (”Act”), enacted by the 1999 North Dakota Legislature, authorizes a North Dakota city to apply to the state for designation of part of the city as a “renaissance zone.” Property, income, and financial institution tax incentives are available to taxpayers for investing in zone projects within a zone. Approval of zone status and general administration of the zone are the responsibility of the North Dakota Commerce Department’s Division of Community Services. The tax incentives, other than the property tax incentives, are administered by the North Dakota Office of State Tax Commissioner.
*Please click and review Renaissance Zone Act Tax Incentives Guideline and contact your legal/accounting professional for more information.