For sale are two improved Phase I lots, which can host buildings of up to four stories in height.
INVESTMENT REAL ESTATE
Investment real estate in Watford City, North Dakota
The oil and natural gas boom in the Bakken region is not leveling out -- it’s rocketing up, and corresponding services have a lot of catching up to do.
The location of Watford City, North Dakota, puts it at the center of this economic action, and Watford City Square is at the center of downtown.
More travelers will pass through on oil company business, and more permanent residents will be putting down roots thanks to the economic opportunities that abound.
These individuals need places to stay, work, eat, and play. Watford City Square is the perfect spot to meet these needs thanks to its mixed-use development plan offering extended stay, adjacent housing, and ample commercial and office investment properties.
Lots from Phases II and III are also available for sale. Design a building to fit your specific needs, or lease space to others, either way we’ll handle the grading, paving, and utility services so these sites can be the foundation for your success in Watford City.
Duplexes will be built in the area behind Watford City Square’s three development phases, with the first units completed in March 2014.
There are 14 planned duplexes with a total of 28 rentable units. Each unit will start at $185,000 to purchase.
Each unit is a 1,200-square-foot townhouse that has 3 bedrooms and 1 bathroom, perfect for residents who want convenient access to Main Street and a home in downtown Watford City.
Bakken Formation mining a boon to Watford City
North Dakota has long been an energy producing state, especially oil and natural gas, but the recent shale exploration of the Bakken has been truly unprecedented.
The Bakken Formation is one of several shale deposits covering parts of Montana, North Dakota, and Canadian provinces Saskatchewan and Manitoba.
Oil was first discovered near Watford City in the early ‘50s, but large-scale mining was impractical with the extraction techniques of the day. Even oil estimates as recently as 2007 put the amount of technically recoverable oil at only a fraction of the formation’s total reserves.
However, the development and use of horizontal drilling and hydraulic fracturing (or fracking, which creates new paths for oil with high-pressure water blasts) have allowed oil recovery since 2008 to exceed all expectations.
Oil companies have moved into the region, but the potential oil production demands more infrastructure, people, and services than the rural communities are prepared to provide.
Because of its proximity and base of services, Watford City has been a prime destination for the influx of workers, scientists, and entrepreneurs.
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