EPIC to Develop Opportunity Zone Project
December 19, 2019
A new development is planned for downtown Fargo. EPIC Companies has recently acquired Gateway Center through a partnership with the previous owner. Its current commercial tenants include Fryn’ Pan, 360 Properties, Cowgill Olson Agency Inc., Institute for Lower Back, John Ermer CPA, Linneroth Law Office, Northern Plains Surgery Center, Panjini Law Offices, and Valley Medical Clinic. Gateway Center is located right along the Main Avenue corridor just west of the river and is known as the connection between Fargo and Moorhead.
EPIC plans to utilize the current building for the next few years while they finalize development plans for a brand-new, mixed-use building to be along Main Avenue. Mixed-use buildings are a progressive way of thinking offering a work, live, and play environment with commercial space on the main floor and residential units on the top floors.
“The future is mixed-use in order to maximize space and create valuable properties. Governor Burgum’s Main Street initiative pushes for mixed-use properties and walkable districts. We look forward to building relationships and developing Gateway Center into
a community space for all to enjoy,” said McKenzy Olson, Vice President of Marketing & Public Relations at EPIC Companies.
Building one construction will begin in the summer of 2020 as a phased process, with the second phase beginning in 2021. Building One plans to have approximately 51 residential units and just over 13,000 square feet of commercial space. Phase two would include residential condominiums and apartments along with over 15,000 square feet of commercial space. The goal would be to work with the City of Fargo and Fargo Housing Authority to create a community within a community that includes affordable housing, mixed-use buildings, and a plaza entertainment space. In turn, created a $70120 million dollar development located in the renaissance zone.
This EPIC Companies project will be located within the federal opportunity zone and state renaissance zone, which gives investors and tenants in the project potential tax incentives. EPIC is very familiar working within communities, state, and federal government on using these types of incentives for benefits of investors and users of the projects.
EPIC Companies has experience developing mixed-use buildings and entertainment spaces in the area including The Lights at Sheyenne 32, the redevelopment of downtown West Fargo (Sheyenne Plaza, Pioneer Place, the POW/MIA Plaza and The Firm constructing in 2020), and Block E in Moorhead. EPIC also has projects in Bismarck, Jamestown, Minot, Grand Forks, Horace, and Detroit Lakes.
The construction manager on record is Gehrtz Construction Services while the architect on record is Zerr Berg Architects. EPIC Management will be managing the commercial spaces and residential units. For more information view EPIC Companies’ other developments online at epiccompaniesnd.com.
About EPIC Companies EPIC Companies is a local company that entails EPIC Management, EPIC Capital, and EPIC Development. The firm has casually grown from a single employee to multiple full-time and part-time employees. They work towards raising capital, developing projects, and managing property to enhance the community. EPIC Companies manages over 400 apartment rental units and over 200,000 square feet of commercial space in the Fargo-Moorhead and the Detroit Lakes community with more units coming in Jamestown, Bismarck, Grand Forks, Horace, and Minot.