DULUTH – Bell Bank is moving into a historic brownstone building near the NorShore Theatre in downtown Duluth as it seeks a foothold in the market.
The bank, along with developer Titanium Partners, will be renovating the Temple Opera building inside and out while retaining the 130-year-old structure's character.
The multimillion-dollar investment — an exact figure was not available — is expected to wrap up by Thanksgiving.
"I can't emphasize enough how excited we are to be in Duluth and to get the branch complete," said Tim McShane, president of the Twin Ports region for Bell Bank. "The sooner we can get in there the better."
The family- and employee-owned bank, based in Fargo, opened a Duluth office with limited services in October. It has locations in Minnesota, North Dakota and Arizona and expects to employ about 15 people when the full-service branch opens this year. The bank has about $6.5 billion in assets.
McShane said with the NorShore next door and nearby work on a new high-rise apartment complex and the Essentia Health campus, the Historic Arts and Theater (HART) District, as the area is known, is suddenly the place to be.
"It's clearly going through a renaissance," McShane said.
The building will visibly transform this summer after getting a deep cleaning — its faded brown facade will be washed to reveal a brilliant red.