Dakota Commercial planning 150-unit apartment development near Icon Sports Center
Jun. 7—GRAND FORKS — Dakota Commercial is planning a $42 million, five-acre development of apartments off 47th Avenue South across from the Icon Sports Center.
The development is working its way through the Grand Forks Planning and Zoning Commission and City Council this summer, with plans to begin construction in the spring of 2027 and be complete in 2029. Dakota Commercial President Kevin Ritterman said the second of three phases is planned for the vacant land between 47th Avenue South and the south-end drainway.
"It's something we've been working on for a couple of years, trying to make it work with construction costs and interest rates," Ritterman said. "This was a good opportunity, a good location to take a look at trying to get this done."
The plans include approximately 150 units and 10,000 square feet of commercial space in the mixed-use structure that will be five stories.
The first phase in 2014 consisted of 44 townhomes that back onto a residential development south of Optimist Park. The apartments had been planned as part of the final buildout of the 26-acre site, but has evolved to have more units and less commercial space than originally planned.
"There's just so much commercial in town that you could never fill it," Craig Tweten, president of Community Contractors, told the Planning and Zoning Commission on June 4.
The mixed-use structure will face 47th Avenue and toward South Washington Street, with commercial on the first floor facing the thoroughfares and residential units facing the townhomes. In the future, there will likely be additional commercial development to the south of the site.
Residents near the development have largely been positive about the development, Ritterman and Tweten said.
"Some are curious when they could move in," Ritterman said.
At the Planning and Zoning Commission, Tweten added that the concerns raised weren't so much about the building, but the impacts to traffic and the potential future commercial development on the rest of the site.
As part of the development, Dakota Commercial is in the process of seeking a property tax incentive. On April 21,
the City Council approved having Dakota Commercial applying to begin the financial review process.
Dakota Commercial is proposing to have the incentive to exceed five years, which means the request will go before the Grand Forks County Commission and the Grand Forks School District for consideration.
There has been debate at the City Council about whether developments should go through the planning and zoning process before being allowed to apply for tax incentives. The tax incentive review and planning and zoning process are occurring simultaneously, which likely will mean a quicker review process, according to city staff.
The development requires a zoning amendment to the planned unit development to increase the allowed density. The Planning and Zoning Commission unanimously moved forward with preliminary approval of the amendment on June 4. The City Council will review the request at its next meeting.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
26 minutes ago
- Yahoo
SoftBank founder proposes $1trn AI and robotics hub in US
SoftBank Group founder Masayoshi Son is pursuing a plan to establish a $1trn industrial complex in Arizona, the US, to create a major hub for AI and robotics manufacturing, reported Bloomberg. The Japanese investment firm has approached Taiwan Semiconductor Manufacturing (TSMC) to play a key role in the project, though the specifics of TSMC's potential involvement remain unclear. The proposed complex, dubbed 'Project Crystal Land,' envisions a high-tech manufacturing hub akin to China's Shenzhen, individuals familiar with the plan told the publication. The park could include production lines for AI-powered industrial robots, they said, though the discussions remain private. SoftBank has also engaged with Samsung Electronics executives to gauge interest, alongside a range of other technology companies, the report added. SoftBank officials have held discussions with US federal and state government officials, including US Secretary of Commerce Howard Lutnick, to explore potential tax incentives for companies investing in the industrial park. Son has compiled a list of SoftBank Vision Fund portfolio companies, such as robotics firm Agile Robots SE, that could establish production facilities at the site. The project's feasibility depends on support from the Trump administration and state authorities. While the envisioned cost could reach $1trn, as previously reported by the Nikkei, the actual scale will hinge on participation from major technology firms, Bloomberg's report said. If successful, Son has suggested the possibility of developing additional advanced industrial parks across the US. TSMC, which has already begun mass production at its first Arizona factory as part of a $165bn US investment, indicated that SoftBank's project does not impact its existing plans in Phoenix. Representatives from SoftBank, TSMC, and Samsung declined to comment, and the US Commerce Department did not immediately respond to Bloomberg's inquiries. In March 2025, SoftBank agreed to acquire Ampere Computing, a US-based semiconductor design company, for $6.5bn. As per the deal, Ampere Computing will be acquired by SBG through its subsidiary Silver Bands 6 (US) Corp. Ampere Computing is engaged in developing high-performance, energy-efficient processors tailored for cloud computing and AI workloads. The company currently employs approximately 1000 engineers. "SoftBank founder proposes $1trn AI and robotics hub in US" was originally created and published by Verdict, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
30 minutes ago
- Yahoo
How to ask for a raise: 6 mistakes that can hurt your chances — and what to do instead
Only 13% of full-time employees requested a raise in 2023, but 66% of those who did received one, according to a May 2024 Federal Reserve survey. It goes to prove the old saying right: Ask, and you shall receive. Still, asking for a raise at work can be a stressful conversation for many employees. If you ask at the wrong time or in the wrong way, you could hurt your chances. From asking too soon to giving ultimatums, even minor missteps can work against you. In many ways, it's a skill of its own. Here are six mistakes to avoid, along with practical tips to approach salary discussions with confidence and increase your odds of success. Before asking for a raise, it's essential to establish a strong relationship with your manager. Otherwise, the conversation won't go far. 'Before giving a raise, I would want to know what my employee is doing and have a regular cadence where we're meeting consistently,' says Patrice Williams-Lindo, a career coach and manager of five. 'If it's the first time we're meeting, it's impractical to ask for a raise then and there. It's like asking someone to marry you on the first date,' she explains. Set up regular one-on-one meetings with your manager if you haven't already done so. Use that time to keep them updated on your progress, share your wins and make sure you're aligned on goals, including earning a salary increase. It will also give your manager a clear understanding of how you and your work contribute to the team. Do you work for a great organization? Nominate it as one of America's Top Workplaces. Even after you've established a relationship with your manager, avoid requesting a raise in an arbitrary one-on-one meeting, via email or during a casual conversation. Your manager should know the conversation is coming. 'It shouldn't be an ambush,' Williams-Lindo says. 'When you book the meeting, say, 'I'd like to talk about compensation and share the results I've driven,'' she advises. Schedule a dedicated meeting and clearly state its purpose. That way, your manager has time to prepare and come to the conversation with the right mindset. Timing can significantly impact whether your raise request is granted. If you're unsure when your company typically handles raises or promotions, bring it up during your one-on-ones, then use the intervening time to work toward that raise. 'If I'm setting myself up for mid-year, then I need to start at the beginning of the year — if not before — building that case,' Williams-Lindo says. Map out what you want to achieve for the year ahead and start gathering proof points early, so by the time you discuss a raise or promotion with your manager, your case will already be well established. Avoid asking for a raise out of fear or personal financial pressure. Instead, keep the focus on your performance and value. Williams-Lindo suggested saying something like, ''It's been X months — here's what I've done, the caliber of my work and the outcomes I've delivered. That's why I believe I'm qualified for X, Y or Z.' That gives off a different energy than, 'Hey, I don't know how I'm going to pay my rent, and I need a raise.'' Center the conversation on your professional achievements and value. Know what the market is paying for your role and what peers in similar roles (even at other organizations) are making. If you can demonstrate the gap, you're more likely to have a productive outcome. Giving an ultimatum when asking for a raise is a major mistake. Even if you do get the raise, this type of communication can antagonize your manager, damage your professional reputation and ultimately undermine your value. 'This might sound like, 'I need a raise, or I'm quitting.' I appreciate that bravado, but for me, it's a bit of a turn-off, because how did we get here?' Williams-Lindo says. Rehearse your talking points. Calm, professional conversations are far more effective than explosive ones. Be open to negotiation and prepared to compromise on the final amount. Even if you've thoroughly prepared and presented your case well, your raise request could still be denied. If you're told "not right now," ask your manager for specific feedback. There may be outside factors influencing the decision or specific goals you'll need to meet to be considered for a raise in the future. A good manager will explain the reason — whether it's because the company is facing a downturn or because there are performance gaps to work on — and then help you to fix them. Set up a follow-up time — in three to six months — to revisit the conversation. This will indicate that you are engaged and goal-oriented. If your manager is dismissive and doesn't provide clear, achievable paths to advancement, it may be time to reassess if this is still the right place for your growth. This article originally appeared on USA TODAY: how-to-ask-for-raise
Yahoo
34 minutes ago
- Yahoo
Public companies account for 71% of Gyre Therapeutics, Inc.'s (NASDAQ:GYRE) ownership, while individual investors account for 19%
The considerable ownership by public companies in Gyre Therapeutics indicates that they collectively have a greater say in management and business strategy 71% of the company is held by a single shareholder (GNI Group Ltd.) Ownership research, combined with past performance data can help provide a good understanding of opportunities in a stock AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early. If you want to know who really controls Gyre Therapeutics, Inc. (NASDAQ:GYRE), then you'll have to look at the makeup of its share registry. With 71% stake, public companies possess the maximum shares in the company. Put another way, the group faces the maximum upside potential (or downside risk). Individual investors, on the other hand, account for 19% of the company's stockholders. In the chart below, we zoom in on the different ownership groups of Gyre Therapeutics. See our latest analysis for Gyre Therapeutics Institutional investors commonly compare their own returns to the returns of a commonly followed index. So they generally do consider buying larger companies that are included in the relevant benchmark index. Institutions have a very small stake in Gyre Therapeutics. That indicates that the company is on the radar of some funds, but it isn't particularly popular with professional investors at the moment. If the business gets stronger from here, we could see a situation where more institutions are keen to buy. We sometimes see a rising share price when a few big institutions want to buy a certain stock at the same time. The history of earnings and revenue, which you can see below, could be helpful in considering if more institutional investors will want the stock. Of course, there are plenty of other factors to consider, too. We note that hedge funds don't have a meaningful investment in Gyre Therapeutics. GNI Group Ltd. is currently the largest shareholder, with 71% of shares outstanding. This implies that they have majority interest control of the future of the company. Meanwhile, the second and third largest shareholders, hold 3.1% and 3.1%, of the shares outstanding, respectively. Songjiang Ma, who is the third-largest shareholder, also happens to hold the title of Member of the Board of Directors. Researching institutional ownership is a good way to gauge and filter a stock's expected performance. The same can be achieved by studying analyst sentiments. While there is some analyst coverage, the company is probably not widely covered. So it could gain more attention, down the track. The definition of an insider can differ slightly between different countries, but members of the board of directors always count. The company management answer to the board and the latter should represent the interests of shareholders. Notably, sometimes top-level managers are on the board themselves. Most consider insider ownership a positive because it can indicate the board is well aligned with other shareholders. However, on some occasions too much power is concentrated within this group. We can see that insiders own shares in Gyre Therapeutics, Inc.. In their own names, insiders own US$53m worth of stock in the US$755m company. It is good to see some investment by insiders, but it might be worth checking if those insiders have been buying. The general public, who are usually individual investors, hold a 19% stake in Gyre Therapeutics. This size of ownership, while considerable, may not be enough to change company policy if the decision is not in sync with other large shareholders. It appears to us that public companies own 71% of Gyre Therapeutics. It's hard to say for sure but this suggests they have entwined business interests. This might be a strategic stake, so it's worth watching this space for changes in ownership. It's always worth thinking about the different groups who own shares in a company. But to understand Gyre Therapeutics better, we need to consider many other factors. Like risks, for instance. Every company has them, and we've spotted 2 warning signs for Gyre Therapeutics (of which 1 makes us a bit uncomfortable!) you should know about. If you would prefer discover what analysts are predicting in terms of future growth, do not miss this free report on analyst forecasts. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
