The City of Williston has answered the call for the building of permanent housing in what is one of the quickest growing cities in the whole of the United States, announcing last week that clients and affiliates of Kohlberg Kravis Roberts & Co, including co-investors Pfeffer Capital and CP Realty, as well as KKR Financial Holdings LLC, have purchased land in order to develop a permanent high quality residential community in Williston in North Dakota. There has been no disclosure regarding the financial terms of the transaction.
“Williston is one of the fastest growing cities in America and we are dedicated to building a long-term sustainable community,” says the Mayor of Williston, Ward Koeser. “We are thrilled to work with new partners like KKR, Pfeffer Capital and CP Realty to provide the quality housing alternatives we need to support the demand created by our thriving economy.”
The Ridge at Harvest Hills is the name of the project, which features 164 acres of land that overlook the city of Williston. The construction of the infrastructure for the current phase is already underway and is to support the development of 330 new apartments for people to move into. These are scheduled to begin in the spring of next year, as is completion of lots intended to be sold to homebuilders for the construction of 500 townhouse, duplex and single-family homes.
The Ridge at Harvest Hills shows an evolution in the community planning and housing stock for the city, as public officials and developers work in tandem in order to include open space, parks and recreation. Furthermore, the community has been planned so that commercial use will be slowed or directed in order to enhance still further the suburban feel of security and safety for its residents.
Crucially, and unlike that of the land surrounding it, the Ridge at Harvest Hills is completely entitled and has instant access to utilities to make sure that the new community will help to fix the near-term housing shortage in the city in addition to the long-term demands of the community.
The Ridge at Harvest Hills is perfectly situated in close proximity to the brand new retail development Sand Creek Town Center, as well as the new municipal golf course, an elementary school, Wal-Mart, and the new office complexes belonging to a number of major oil companies. The creation of a quality new neighborhood in order to attract families to move there is an important step in the city’s sustainable development, where approximately 15,000 gas and oil professionals are living in different kinds of temporary housing such as RVs, hotels and ‘man-camps’.
“The Ridge at Harvest Hills represents a major investment that will help the city of Williston meet its current and long term housing needs,” says Governor Jack Dalrymple.
Anyone wanting to move there could make use of the services of Bekins, which has a commitment to excellence that makes it one of the most reputable moving companies in the United States.