It was about November, 2011, maybe earlier, that I started seeing signs that the activity in the Bakken would move to McKenzie County in 2012, and started blogging that.
For newbies, Watford City, with a population of 1,744 (2010 census), will now be adding 500 homes west of the city.
The mayor says Watford City is planning for 400 to 500 new residences west of town between single-family homes, twin-family homes and patio-homes. It also plans for motels on the east and south sides in addition to an office park.Pretty exciting. Watford City certainly has a pro-growth attitude, or so it appears.
Watford City also received $12 million from the last legislative session to run water and sewer to these extensions. The mayor is curious to see how much of the construction is actually completed next summer.
With regard to 1,744; divide that by 4 and you might get 440 homes in Watford City in 2010. It looks like Watford City is truly looking to double in size "overnight."
Curious to get your opinion on where housing, single family and affordable rentals, has the most room to grow in the Bakken region? As a home builder who survived the last few years, we'd like to expand into ND with a few small projects in 2012 but don't want to buy in just to see absorption grind to a halt due to overbuilding. Ed G.
ReplyDeleteI think the best bet is farther away from the Bakken: east to Minot or Bismarck, even Fargo. Possibly west, well into Montana.
DeleteBut the Bakken itself is too expensive now, and has pretty much been divvied up among the earlier developers. The small towns would still have opportunities but I think bigger risks.
Minot, Bismarck, Fargo have much more diversified economies.