The future
It's some of the biggest economic development news that this city has ever experienced. The Marcil Group of Fargo has finalized its purchase of nearly 600 acres of land owned by longtime local farmer and Grand Forks real estate developer Art Greenberg. The land tracts are located on the southern side of Grand Forks and sit on both sides of I-29. The Marcil Group won't disclose just how much this deal is worth, but a local realtor estimates a value of at least $15 million. Read Ryan Schuster's article in Thursday's Herald and check out his blog post. Also, check out the Marcil Group's press release.
So why is a land sale such a news story? Well, for one thing, the size of this land purchase is almost unprecedented in this region. Simply the sale of this much land in the backyard of a city like Grand Forks is a story in and of itself. When was the last time nearly 600 acres of land was "put into play" at one time in Grand Forks or for that matter any other North Dakota city?
The other story here is the plan that Marcil is drawing up for this land. The Marcil Group will not sit back and wait for developers to approach them before they sell off the land in a slow, piecemeal fashion. Instead, Marcil has bold plans to develop this land over the next decade or so and, in turn, create a major expansion of Grand Forks and inject a major boost to the local economy. And, yes, we're talking MAJOR. This is literally "the next 32nd Avenue."
It appears that Marcil is placing a major emphasis on commercial uses in their early plans for the land. I think that is a great idea because, currently, there are few remaining tracts of land bordering the city that can easily be developed into commercial uses. This is something that has worried me in the past. I've been concerned that Grand Forks' economy could be stunted because we don't have enough commercial land readily available. In my opinion, this has now been taken care of with one stroke of the pen.
However, we're not talking about just a new shopping mall or sea of strip malls here. Sure, there probably will be plenty of big box stores ultimately developed in this land, but this land will also see residential, public, and possibly even some industrial uses. This land will ultimately become entirely new neighborhoods of Grand Forks.
Expect to hear plenty more about this in the local news and in future blog posts here. This story isn't going to go away.