Minneapolis developer confident multi-million dollar Fargo business park project will proceed despit
FARGO (KFGO-AM) - A Minneapolis company with a long history of developing "in-fill" projects on old industrial sites has found more issues than expected with a blighted property in Fargo that it wants to turn into the Butler Business Park.
Hyde Development wants to build four huge, state-of-the-art commercial buildings on the southeast corner of I-29 and Main Avenue.
Spokesman Paul Hyde says solving water and drainage issues on the 15 acre property has raised the project's estimated $18 million price tag to $22 million and will delay the start-up. He says engineers are now working to pare down the cost before presenting an updated budget plan to the City Commission next month.
The company is seeking a nearly $2 million tax break from the city. Hyde hopes to start construction in the spring of 2015.