International Business Times is reporting:
Terry Olin plans to change that. As the cofounder of Switzerland-based investment company Stropiq LLP and a North Dakota State University alum, Olin is building a $500 million real estate project in the center of town. Named Williston Crossing, the center will carve out 1 million square feet for retail space, entertainment, a hotel, an office complex and multifamily buildings. Already, Stropiq is polishing a 93-unit apartment complex in the city whose apartments will be available to rent in August.Then, follows, a must-read interview.
Some data points:
- high-end, but not luxury apartments
- ND native; huge successes in Russia over past 20 years
- pleased with anchor stores that will open; not allowed to name them
- mentions the $73 million rec center north Williston
We might do something else in the Bakken. This is a once-in-a-lifetime opportunity. I’m not sure that’s even putting it quite strong enough. There’s a monumental population shift, and the technology has created an industry that wasn’t here before. The Bakken is the center of that. Today, we have the only place in the U.S. and maybe in the developed world where a population of 50,000 is a minimum one hour away from a Target or similar retail. We’re in the center of 150,000 people who have to drive hours to get to retail. There’s so much to be done. We really don’t need to look at other markets. We just hope we get to know our own.
