Every good city has a city center; a vibrant hub where the community can gather, work, eat, and play. It is the central heart from which the rest of the city pulses and thrives. In Fargo, it is Broadway and the surrounding area, punctuated by the legendary Fargo theater marquee and peppered with restaurants, shops, and startups.
There is currently a 48,000 square-foot surface-level parking lot in the central part of Fargo’s thriving downtown community. We believe this space can be put to better use, particularly as Fargo continues to grow as a strong economic leader that is attracting thousands of men, women, and families from across the nation. We believe in the positive economics of density; that by filling the space with more places to eat, work, shop, and sleep, this will increase the economic growth of Fargo and elevate the entire community.
With the creation of Block 9, more than 650 additional employees, including new job opportunities, will be coming to the center of downtown. A study done by the International Council of Shopping Centers (ICSC) found 62 percent of office workers shop during the workday. The average office worker spends $96 per week during the weekday and, on average, eats lunch outside of their office three out of five days. This results in each U.S. office worker, on average, supporting 30 square feet of retail and restaurant (7 SF of restaurant and 23 SF of retail). Given that all of Block 9 office employees will be new to downtown, they alone will be able to support around 15,000 square feet of retail and restaurant development.