Gate City Bank Approved For Downtown St. Cloud Branch

(KNSI) – Gate City Bank is officially coming to downtown St. Cloud.

The St. Cloud City Council unanimously approved an amendment Monday night to the Media Services Planned Unit Development, clearing the way for the Fargo-based bank to build a 7,000 square foot branch on the former ISD 742 Media Services block at 115 13th Avenue South. Gate City Bank will replace what was previously the school district’s media services building.

Gate City Bank Senior Vice President Jay Krabbenhoft spoke with KNSI after the vote. “I am very excited about our presence here in St. Cloud. The lot is beautiful. It’s across the street from the beautiful St. Cloud Library right here next to Lake George and, of course, city hall.”

The new branch will join two smaller spokes already operating inside Coborn’s and Cash Wise locations in town. Krabbenhoft was asked why Gate City is investing in a full brick and mortar location when so many banks are moving away from them. “We’re a relationship bank and we base our transactions, aren’t just transactions, they’re relationships, and we want to get to know the people in St. Cloud.”

The plan calls for a 29-space parking lot in the center of the property and a three-lane drive-thru along Division Street. A second phase pad site east of the bank is shown for possible future commercial development, but any project there would require a separate PUD amendment.

The city has agreed to sell the nearly two-acre property to Gate City Bank for $1.4 million, consistent with a recent appraisal. The Planning Commission recommended approval on a 7-0 vote in April. Staff recommended several conditions, including modifications to a parking peninsula to add a drive-thru stacking space, along with additional details on signage and landscaping.

An official opening date has not been set, but Krabbenhoft says crews will begin leveling the lot and laying grass seed soon to spruce up what’s been called the gateway plot to downtown.

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