The development called Silver Ranch would provide 2,800 homes spanning more than 1,100 acres located in the North East part of Bismarck.
Silver Ranch will be twice the size of the city of Lincoln and have 22 miles of streets. It is expected to bring in about $1 billion dollars in tax revenue including $45 million dollars in sales tax. The development will include walking paths, parks, mixed-use commercial development, a community center, and maybe even a new school one day.
Bismarck Mayor, Steve Bakken says, ” “We got a lot of jobs for contractors, roofers, framers, flat workers. So you get the upfront good economic boost with that. On the back side its providing housing and if you take a look at that now we have a pretty strapped housing market.”
Developer and President of InvestCore Inc., Chad Wachter, says he’s been planning this development for over 3 years.
“Naturally I see most of the growth going northeast so when this opportunity presented itself
it just seemed like a natural project for my company,” says Wachter.
Silver Ranch is predicted to be a 30 to 43 year project, but they have started working on phase one of the three-phase project which includes grading streets, connecting the sewer and water systems, and much more. Wachter says they will hopefully be done with phase one before the snow flies this year.