Shopping Center Business

MAY 2015

Shopping Center Business is the leading monthly business magazine for the retail real estate industry.

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270 • SHOPPING CENTER BUSINESS • MAY 2015 Randall Shearin The $200 million FiveSouth project will create a downtown destination for Bismarck, North Dakota. FiveSouth To Serve Growing Bismarck O ne of the fastest growing small cities in the U.S., Bismarck, North Dakota, has a develop- ment landscape that has, in some respects, had to play catch up with rapid popula- tion growth and civic expansion. The lack of a true downtown destination has been particularly noteworthy. FiveSouth, a transformative new mixed- use development in downtown Bismarck, is a promising candidate to provide that missing social and commercial hub. The $200 million project, which spans from the corner of East Front Avenue and South Fifth Street to East Indiana Av- enue, is set to deliver a diverse blend of of residential, retail, dining, office and entertainment offerings to a reinvigorated downtown Bismarck. Steve Backman, president of master developer Cardon Development Group (CDG), says that the project is designed to "build upon the recent momentum of the City of Bismarck, further activat- ing the downtown core and cementing Bismarck's status as an appealing desti- nation for students, young professionals, businesses and tourists." CDG is developing FiveSouth in con- junction with local partner Bismarck Fu- tures, LLC, a group of Bismarck-Mandan business community leaders who describe themselves as "invested in the growth and development of a healthy capital city." In The MIx The FiveSouth master plan includes ap- proximately 50,000 square feet of retail space, primarily focused on fast-casual dining and service retail; a 250-key full- service hotel; 400 units of residential- over-retail; extensive public parks, green space, and community gathering places; 200 new on-street parking spaces; and two new parking decks with approximately 600 spaces. The residential offerings will deliver what Backman refers to as a "true ur- ban living environment," complete with appealing residential amenities and high quality finishes. "With workout facilities and community spaces like public gardens and rooftop experiences, FiveSouth resi- dents will find themselves in a desirable and convenient position, just steps away from bars and restaurants." The hotel will be the first full-service hotel to be built in Bismarck in more than three decades. Intriguingly, the hotel will connect directly to the existing Bismarck Events Center — a 10,000-seat arena that hosts concerts and sporting events — and a 100,000-square-foot exhibit hall and convention center that was expanded and renovated in 2014. Along with the proj- ect's sizable residential component, Five- South's hospitality features look primed to dramatically raise the profile of down- town Bismarck. Jeff Übl of Übl Design Group, the lead architect on the project, says that FiveSouth will bring "much more than just new re- tail, residential and hospitality elements," it is also adding much needed density and "significant entertainment components and a great deal of excitement — a truly vibrant urban environment." The MIssIng PIece Of The Puzzle Bismarck civic and business lead- ers have been envisioning a project like FiveSouth for some time now. The main corridor Fifth Street corridor connect- ing Bismarck's existing Kirkwood Mall to downtown has been underutilized for years. The city has long had a very tradi- tional "small town" downtown, but with increased pedestrian traffic and a thriv- Created from an existing street grid, FiveSouth will add much needed housing as well as retail and hotel uses.

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