Construction has begun on the 633,200 square foot Hyde Development Dakota Commerce Center near Hector International Airport and Interstate 29 in northern Fargo, North Dakota. The US$53 million facilities will be nearly half the size of the Amazon Fulfillment Center nearby and will be constructed for bulk distribution of goods. The industrial park is being built to serve a variety of industries and should also serve as a good fit for firms that work with Amazon. Excavation on the 42-acre site began just over a month ago however the site is expected to be completed in January next year for the first building. The second building is expected to begin construction next year as well with the third and fourth buildings beginning in 2023 and 2024 respectively if all goes to plan.
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Each of the buildings of the Dakota Commerce Center will be precast concrete with insulated walls, similar to the two buildings Hyde Development completed 2019 in Butler Business Park, at the intersection of Main Avenue and Interstate 29. Each of the warehouses will have parking for trailers and cars, two drive-in doors apiece, and plenty of loading dock doors. The company had sought a US$5.25 million property tax break for the project, but that was turned down by the Fargo City Commission earlier this year.
“You know, we needed that Tax Increment Financing, it’s not just a made-up thing. We needed the Tax Increment Financing to cover our site work, that soil correction, to get those Fargo clays so that they don’t move in the seasonal changes and move our floors. We were able to go back to the drawing board, and with a lot of creativity and some hard work, and some price relief from the sellers of the land, and interest rate relief, with all the dials turning in the right direction, we were able to make it work,” Paul Hyde, the co-founder and owner of Hyde Development said.
