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Thursday, April 19, 2012

Mild Weather in North Dakota: Construction Cycle Starts Early

Williston Building Permits $33 Million 1st Quarter vs $7 Million 1Q11

From the Minot Daily News, to date (some numbers rounded):

Minot:
  • 81 single-family homes, 10 townhouses, 208 apartment units permitted
  • two new motels permitted: Nobel Inn (66 rms); My Place Hotel (64 rms)
  • building permit revenue $55 million (vs $35 million, same time last year)
  • may need 4,000 to 5,000 more housing units just to catch up
  • last year: Hampton Inn, Staybridge, Souris Valley Suites addition, LaQuinta, Country Inn & Suites, Astoria
Bismarck:
  • 76 single-family homes (compared to eight the same period last year)
Grand Forks
  • "number of permits issued so far this year, unheard of"
  • 10 apartment buildings will be started this year
  • 3 new hotels this year
Fargo:
  • 966 single-family homes (steady but small decline since 2008)
  • overall construction up 10 percent last year
Williston:
  • growing faster than Fargo
  • 1,340 single-family homes in 2011 (up from 610 in 2010) 
  • first quarter this year: $33 million vs $7 million last year
  • commercial permits have almost tripled
  • single-family home permits same as last year
  • apartment unit permits are up

1 comment:

  1. Minot LOST thousands of homes because of the 2011 flood. So in some ways, it is not so much about a huge GROWTH...but a mjority of it is about replacing what was lost. I read the same article and the Minot builders association is speculating 3,000 to 4,000 new oil workers each year. I really doubt that number. But I guess time will tell. But hopefully Minot can get caught up on re-building the thousands of homes that were lost to help the locals out first.

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