Developer Expediting Plans to Build 450 Housing Units in Minot -- East of the Bakken, North Dakota, USA

The general consensus is that the Bakken does not extend east to Minot (about 120 miles east of Williston, North Dakota -- the heart of the Bakken). There is new information dribbling out that suggests that is incorrect and that there will be more Bakken to be found to Minot and east. More on this in future blogs but I have to have something to write about this week, so want to hold on to this for awhile.

One developer may inadvertently be ahead of the curve on this. See story here (regional links break early and break often). The developer has had plans for some time to build in Minot, but with the recent flooding, and now an acute need for more housing, he has decided to accelerate plans.

A Fargo developer [with roots in Minot] expects to begin building out infrastructure Sept. 12 on a project that will add nearly 450 new housing units in northeast Minot.

The Stonebridge Farms development is located east of the National Guard Center between 32nd and 36th Avenues Northeast on property that has been in the hands of a Minot family for four generations.

Busek said flooding that aggravated Minot's housing crisis prompted him to speed up plans on his housing development, which includes parks, bike paths and playgrounds.

Other data points:

• Phase I: 24 twin homes and 48 two-bedroom apartments; first units becoming available this December
• Additional units in Phase I will become available, March, 2012: 22 single-family homes, 40 townhouses and 84 two- and three-bedroom apartments.
• Phase II: 230 single-family lots on 120 acres
• Low density with open space; green space
• A 110-foot existing grove of trees will stay
• Originally designed as a 3-to-5 year project, the timeline will adjust to demand

As noted earlier, oil activity may be the real driver.