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Major redevelopment proposed for blighted former industrial site in Fargo


FARGO (KFGO-AM) - Fargo City Commissioners have authorized city staff to proceed with a financial analysis of a plan by a Minneapolis development group to turn a blighted former industrial area into a business park.

Hyde Development LLC is seeking nearly $2 million in tax increment financing for 15 acres south of Main avenue and just east of I-29. That's the former Butler Machinery-Gremada Industries site.

Paul Hyde says it's taken a year and a half to find the right site. The $18 million project will include four multi-tenant buildings, totaling 180,000 square feet that will bring more than 300 jobs to the site and will increase the property's tax base by more than $100,000 a year. He says it would "clean up the front door to Fargo."

Hyde Development has done similar developments in Minneapolis and Milwaukee.