Upscale apartment complex receives exemption
By Brian L. Gray
The Mandan City Commission has unanimously approved a two-year tax exemption for a 78-unit apartment complex, which will be built in south Mandan.
The developers of the project, Diamond Bend Apartments, LLC, will construct the apartment complex at 4300 21st St. S.E. The amount of tax breaks the developers will receive is $118,200 each year for a total of $236,400.
Construction of the apartment complex will run upwards of $6 million, and will include three floors of apartments with a fourth floor featuring underground parking. The building will contain 52 two-bedroom, 12 one-bedroom and 12 three-bedroom apartments. Rents are expected to run from $1,000 to $1,250.
Mark Payne, with Diamond Bend Apartments, LLC, says the complex will also include a playground and a green space area. He says construction will begin sometime this summer, and would be complete by the summer of 2014.