03-05-2025
Stalled downtown Beacon development in Grand Forks potentially to be back on track this fall
May 3—GRAND FORKS — With Epic Companies dealing with bankruptcy, another company — Grand Forks-based Dakota Commercial — hopes to have the Beacon public plaza back on track by this fall.
"We're working through the ownership group to find a solution for financing for getting the center area done," Dakota Commercial President Kevin Ritterman said. "There have just been a lot of things in the last year; we just keep knocking off (to-do items) every day."
The mixed-use Beacon development in downtown Grand Forks broke ground at the site of the former Townhouse Hotel in 2021. The original proposal had three buildings surrounding a public plaza that included a stage and an ice skating rink. To date, the plaza's stage structure has been completed, and two of the buildings are finished and have tenants living in them. The third building has not been completed, and was likely going to be delayed given market conditions, Epic told the city in 2024.
The development is still owned by Epic, according to Grand Forks property records. The company filed for Chapter 11 bankruptcy in July 2024 and has been mostly silent since. Dakota Commercial took
over the management of the Beacon development in 2024,
but doesn't own the land. Ritterman said he hasn't heard directly from Epic representatives; Dakota Commercial representatives only speak to Epic's attorneys.
The city
also hasn't heard much from Epic.
The last official action the City Council took was in May 2024, when it approved a second
amendment to the development agreement.
"A $100 million-plus-revenue-a-year company (is now) like nothing," Grand Forks Mayor Brandon Bochenski said. "Ritterman and (Community Contractors President Craig) Tweten are trying to right this thing. They're trying to fix it."
The city would have reimbursed the company for the construction of the public plaza when the city assumed ownership. Two amendments to the development agreement laid out that set-aside beautification funds, around $1.1 million, would be given to fund t
he construction of the plaza ahead of schedule.
The city has not given Epic funds to date because the company has never met the conditions of a $2.5 million deposit, a sworn statement from the contractors, and loan paperwork being finalized.
There are still many unknowns, given that Epic is still going through bankruptcy proceedings. Likely, changes to the agreements would have to be brought forth depending on future ownership, and changes would be subject to City Council approval.
Epic still owns a number of other properties in Grand Forks, including at 301 N. Third St. and 22 S. Third St. Those properties are also now managed by other companies.
