Courtesy of the Bemidji Pioneer

Friday’s announcement that the BSU Foundation had closed on a deal to sell its land at the former Bemidji High School site to developers should be seen as good news for the local economy.

The foundation announced Friday it had closed with Peterson Developers for the 11-acre parcel at the corner of Bemidji Avenue and 15th Street.

The developers, John and Trudy Peterson, plan to build “University Heights,” which will feature off-campus housing and future commercial properties.

Bemidji State supports the project, as it will help alleviate housing shortages for students, and the city supports the project as it brings new businesses to the community.

An interesting aspect to the project is that BSU will manage the housing development similar to how it runs on-campus residence halls. BSU officials said they will have at least one facility manager on site and would collect rent from student residents on behalf of the developer.

The project will be built in phases, as are most commercial developments of this size, with a single, four-story apartment on the north end of the property up first; construction is scheduled to begin the summer with tenants moving in by August 2016.

The apartments, which will be a mix of three- and four-bedroom units, will include a full kitchen in each unit with two full bathrooms and two additional vanities, a release from BSU said. The apartments will also feature a washer and dryer in each unit.

A second building is scheduled for completion in 2019; that project also will include space on the first floor for retail businesses, and there are also plans for 10 townhouses to be built along Minnesota Avenue.

Since it purchased the land in 2007, the BSU Foundation said it wanted to sell the land to a developer that would use the land to BSU’s benefit. This certainly fits the bill, and the development of retail businesses there also can benefit students and the community.

We wish the project good luck as it gets off the ground.