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Lushkowitz High Rise receives funding needed for demolition

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FARGO – The funding shortfall for the demolition of the Lushkowitz High Rise Building in Fargo has been resolved with funding from the North Dakota Housing Finance Agency (NDHFA), earmarked for affordable housing projects across North Dakota.

John Hoven, a member of the Senate Committee on Transportation, Housing and Urban Development, said the money awarded would help the city safely remove asbestos from the high-rises and proceed with demolition and redevelopment.

Demolition of the Lushkowitz skyscraper is expected to cost $5.8 million.

Chris Brungard, CEO of Fargo Housing, said in August that raising so much money for demolition is always a huge job.

Brungardt said Fargo Housing raised about $4 million of the $5.8 million demolition cost from city, state, housing and urban development, capital improvement and operating funds.

NDFA rounds out those funds with a contribution of $724,000 in the 9% housing loan and an additional $1.05 million in the 4% housing loan.

Fargo Mayor Tim Mahoney said the additional funding will help keep the project on track for an opening next spring.

According to Brungaard in August, there is a great need for affordable housing in metro Fargo, with nearly 3,500 families on the waiting list for housing in Fargo.

Lushkowitz high-rise.

Michael Vosberg/The Forum

The 204-foot Lushkowitz High Rise at 101 Second St. S overlooks the Red River, the Skate Park, the Island Park Community Gardens, and the sprawling Fargo and Moorhead.

The building opened in 1971 and provided affordable housing for Fargo seniors along the river.

The existing building will be replaced by a 110-unit apartment complex with modern amenities, larger apartment options and a parking garage. The four-storey building, which will be called Lushkowitz Riverfront Apartments, will also have a roof terrace.

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According to the North Dakota Industrial Commission, the estimated cost of the project is $33.9 million.

The North Dakota Housing Finance Agency is funding a total of five affordable housing projects across the state to help meet the housing needs of low-income workers, seniors and individuals with disabilities, according to a statement from the North Dakota Industrial Commission.

The statewide funding will support the development or preservation of 266 residential units in North Dakota, the statement said.

Source: www.bing.com

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