Renderings Courtesy of Team FMI
As part of the ever-growing downtown region, Mike Kelly and Kevin Hall of FMI teamed up many years ago and planned the City Centre Lofts condominiums. The lofts will be located at 200 4th Avenue North, which is just North of the new Fargo City Hall. It lies where the former Howard Johnson Hotel once stood. “The pursuit of perfect balance between nature and contemporary urban lifestyle is at the center of this project,” said Kelly, a partner in the City Centre Lofts project.
In fact, when the new City Hall was in need of additional parking, team FMI decided to develop the property in two phases.
During Phase One, FMI construction is building a separate underground parking lot structure. This lot will support a portion of City Hall’s parking needs. That lot is expected to be completed by late summer 2018. In Phase Two, we will see the building of the condominiums. Team FMI will construct four floors of flood protected riverfront condos. The initial framing will commence in June.
Kelly, who is the salesman for team FMI, has been preselling units since the beginning of the year. “My partner, Kevin Hall, and his team will handle the build, all of the management and accounting and financials of the project,” Kelly said.
The building is split into four floors with each receiving its own name. The ground floor, known as the Plaza Vue, will feature a lobby and a community room. Residents on this level will be able to view the river and green space that was formerly 3rd Avenue. As you climb floors, your view becomes more and more scenic. The second floor River Vue units will have an exercise facility that will support the whole building.
A guest suite on the Grand Vue (third floor) can be rented out by owners from the home owner’s association. Finally, the Penthouse Vue sees residents enjoying a spectacular view of the river with a loft and a 20-foot vaulted ceiling. Each penthouse also has its own private rooftop deck.
All floors have unique floor plans named after gemstones. There are Ruby, Emerald, Diamond, Sapphire, Pearl and Opal plans. This allows potential residents to tailor their wants and needs more minutely. However, the price does vary from level to level. “While all of the units on the top floor are sold, we do have several one, two and three bedroom units with price points to fit most everyone’s budget,” Kelly said. “We hope the one bedroom units on the first floor will attract young professionals who work downtown or people just looking to downsize.”
The project also falls inside the Renaissance Zone. This affords buyers some property and North Dakota state income tax incentives. “The RZ incentives are not only a great deal for the buyer, but once the project is complete, it will help generate five times the amount of property taxes for the city that used to be collected from this property,” Kelly said. Kelly believes this has been a selling point for people who are on the fence about buying rather than renting.
It is Kelly’s belief that potential residents are receiving the best that the urban downtown and rural riverfront has to offer at a very attractive price. “Our features and benefits are the best in all of downtown,” Kelly said. “Couple these together and it actually makes a lot of sense to buy rather than rent, simply because of the money you are saving in the long run.”
Kelly says they plan to start framing the project in June of this year. Then, by October they will be building the exterior of the building with individual unit fit-ups to commence in March of 2019. It is Kelly’s hope that buyers will be able to move in by late Summer or early Fall of 2019.
As Downtown Fargo continues to grow more and more people will flock to live in and around the area. City Centre Lofts not only provides an affordable option for those interested, but it also provides a spectacular view along with all the big city amenities. This is done while still maintaining the hip, Downtown sensibility.
City Centre Lots
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