Commission approves $93M, 262‑unit Renaissance Zone development at Central at the Horizon

The Fargo City Commission approved a Renaissance Zone application for Central at the Horizon LP on March 2, authorizing steps that allow the developer to proceed with a five‑story, approximately 262‑unit multifamily building with above‑grade parking at 11th/12th Street North.

Nicole Crutchfield summarized the application, noting the Renaissance Zone Authority had previously considered the project and that the proposed investment exceeds $93 million. David Westworth of the Annex/NX Group explained the financing plan: the project sought a Renaissance Zone incentive after a parallel pilot incentive request was withdrawn, and Westworth said the project would still produce substantial tax payments to the city, county and schools after the incentive term concludes.

Commissioners discussed affordability targets and construction feasibility. Westworth told the commission each unit would be targeted at 60% of area median income on completion, with estimated rents between roughly $1,000 and $1,400 depending on unit size, and said the project was not feasible without the Renaissance Zone incentive. Commissioner Strand asked whether the term was five years or eight; staff and the developer confirmed the request was for a five‑year Renaissance Zone term after the pilot option failed to secure school district support.

The commission approved the recommendation from the planning staff and Renaissance Zone Authority by roll call. The developer said they will continue to work with North Dakota Housing Finance Agency and other partners to finalize affordable/unit design and financing.

Next steps: Developer proceeds with required permitting and financing for the approved Renaissance Zone plan; post‑incentive tax projections were estimated in the staff packet.