Investors Real Estate Trust has commenced construction on Phase I of the Cardinal Point Apartments project in Grand Forks, North Dakota, and Phase I of the Chateau II Apartments in Minot, North Dakota. Once completed, the two projects will add 324 luxury apartment units to IRET's North Dakota apartment portfolio.
The 252 unit Cardinal Point Apartments will provide the Greater Grand Forks area with multiple studio, one, two, and three bedroom floor plans, and an abundant amenity package.
The 72 unit Chateau II Apartments are a rebuild/remodel of the east wing of IRET's currently owned Chateau Apartments that were damaged by the 2011 flood and subsequent fire. The building is increasing in size from 32 units to 72 units, and will be connected to the existing Chateau I via a skywalk.