Last August, we wrote here about Minnetonka-based Oppidan Investment Co. investing big time in North Dakota's oil region.
Now the national property development company recently broke ground for a 43-acre master planned residential community in Watford City, N.D., called The Highlands.
Oppidan is partnering with Denver-based Consolidated Investment Group (CIG), a privately held investment company that focuses on real estate, capital markets and philanthropic initiatives. Its portfolio is valued in excess of $1.5 billion. CIG owns the land and is developing The Highlands -- and Oppidan is managing construction.
The new development calls for 20 single-family detached homes, 38 twin homes, 79 townhomes, 378 apartment units and up to 16,000 square feet of commercial development. The project also includes a city park, a playground, sledding hill and skating pond.
Janet Moore covers commercial real estate for the Star Tribune.