Moorhead, Minnesota, is set to celebrate the grand opening of the Loop, a $40 million library, community center and entrepreneurship center where the old mall used to stand. The project is being funded by a half-cent sales tax approved by voters and aims to become a $300 million public and private investment. It includes a refurbished city hall, more than 1,000 units of downtown housing, a renovation of a 1940s-era hotel, a public plaza to host community events, and a cultural mall with restaurants and immigrant-owned businesses. The city hopes the 18-acre area, which was valued at around $20 million a few years ago, will be worth upwards of $500 million after redevelopment.