Project planners with FiveSouth made a big announcement today.
After several months searching, they've secured a partnership with an international hotel brand that'll serve as one of the anchors for the mixed-use development.
The project will feature a full-service Sheraton Hotel as well as Crave American Kitchen and Sushi Bar.
Attracting young talent to Bismarck is the push behind FiveSouth.
"And so we looked at other communities within our region and within our state. What they were doing to attract talent and it became quite obvious of course, that a lot of these communities were investing in their urban centers and urban culture because that's where young people like to live," said Bruce Whittey, Bismarck Futures Chairman.
Groups behind the development say they hope partnerships like Sheraton Hotels will do just that. Securing the deal was a process that's taken several months.
"Trying to secure a four star hotel in Bismarck with 60,000 people is very difficult. Trying to do it in the last year, year and a half when the market has been down because of the loss in oil perception, not necessarily in North Dakota, but outside the investor community, even more difficult," said Don Cardon, CEO, Cardon Development Group.
The 140-room hotel will be connected by a walking bridge to the Bismarck Event Center. It'll feature Crave American Kitchen and Sushi Bar.
The development will bring additional retail, dining, housing and public parking to downtown Bismarck in an effort to enhance the Capital City.
"I'm not going to be bashful about it. We're in a competition, our region, with cities like Sioux Falls. With Grand Forks. With Fargo. With Denver. And I'm not afraid to say it, we're in competition to recruit the best talent and keep the best talent," said Scott Meske, Bismarck-Mandan Chamber of Commerce President.
Groundbreaking is expected to begin in March with a three year completion date.
The development will include a 250 unit, multi-family residential complex with studio, one, two and three bedroom apartments.