Apartment Situation in Minot - KXNet.com - Bismarck/Minot/Williston/Dickinson-KXNEWS,ND

Apartment Situation in Minot

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Almost monthly, more and more apartment units are coming on line in the Minot region -- the latest being the Commons at Southgate just to the west of Cash Wise Foods.

121 luxury units became available this month-- with another 112 scheduled to be ready in the next few weeks.

So who is gobbling these apartments up?

We talked with Justin Hammer with Investors Real Estate Trust about that last week.

He says there has been a shift...not as many new people coming into the region perhaps.

(Justin Hammer - IRET) "There are a lot of people who are living in Minot already and they had to settle for whatever they could find at the time and now they are shopping around trying to find something that fits their needs a little better. We also do have that customer who is coming from out of state that is moving to Minot. There is good mix but I think it is starting to even out where a years ago there was a lot of new people coming and now it is starting to even out a little bit."

IRET is also rebuilding the Chateau Apartments near Arrowhead Shopping Center for a third time.

They should be online next year.

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