Apartment Outlook in the Magic City - KFYRTV.COM - Bismarck, ND - News, Weather, Sports

Apartment Outlook in the Magic City

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Minot's population has gone through a huge increase in just a few short years.  That's brought more revenue, new businesses and more housing to the Magic City.  And those trends look to continue in the near future.

Winter, Spring, Summer, and Fall, construction never stops in the Minot area.  And as the warmer weather returns, apartment companies look forward to a busy year.  "Once the weather starts changing, it seems that people start to look at housing needs.  So it's picked up a little bit, so we're optimistic," said Justin Hammer, a member of the Magic City Apartment Association.

 According to the Magic City Apartment Association, there are approximately 15 to 18 thousand apartment units in the Minot area.  IRET properties alone will add another 300 units this summer.  A need is still there, but the types of apartments being built are changing.  "When we're developing and designing them, we're looking at making them an apartment home, not just an apartment.  We're making it so there's community rooms, fitness rooms, heated underground parking, pet friendly," added Hammer.

 And Minot is a prime community for more new developments.  Hammer says, "That's one of the advantages Minot has over some of the other communities in the Western (North Dakota), we have the mall, we have a bigger airport, we have the restaurants.  We have the infrastructure already in place, so it's a lot more attractive for people to come here."

 And in an area like Minot where the cost of living is so high, some single families may prefer a bigger apartment as opposed to being tied down with a home mortgage.  "People are getting married later in life.  They're having kids later in life, so the apartment mix fits a lot of people's needs.  A lot of people don't want to lock themselves down into a mortgage on a house.  They like apartment living.  That area is really growing," added Hammer.  From Northeast to Southwest, the Minot Community has expanded rapidly over the past few years, and that trend is expected to continue into the future.

 For more apartment information in the Minot area, or other communities around the state, visit the North Dakota Apartment Association website, www.NDAA.net.

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