“The oil supply is here and the demand will always be there.” – Jason Vedadi
Dropping oil prices may have put the brakes on a lot of E&Ps’ capital spending plans for 2015, but that’s not slowing down Jason Vedadi and his fellow real estate developers in the Williston basin.
“We see this as a long term play. The oil supply is here and the demand will always be there. To invest in the Bakken is a great investment in the future. We are here to stay,” Vedadi said in a press release. Vedadi is CEO of Vedadi Corp., a developer in New York City, Scottsdale and Watford City (ND).
Master Planned Communities: building “a nice, clean community within the oil field”
Hunter’s Run Master Planned Community in the Williston Basin
Northstar Master Planned Community – Williston Basin
The $800 million Hunter’s Run in Watford City and Northstar Center in Williston are master-planned communities designed to bring residential housing and commercial space to accommodate workers and their families and supporting businesses in the Williston basin. Co-development investment opportunities for the walkable and amenity-based master planned community that provides diverse housing and a sustainable commercial district are outlined by the developer at the Northstar website.
The 535-acre project site will dedicate approximately 110 acres as parks and a 47-acre open space, with a concept approved by the Williston Parks and Recreation Department that will include baseball diamonds.
Projects going in at Hunter’s Run include Hegg Companies’ (Sioux Falls, SD) 12-acre multi-family housing project and Feinberg Development of New York, which has developed a 10 acre 180 unit multi-family project. Hunter’s Run is being developed close to local schools, a golf course and other services.
Dialed in to Customer: Late Night Snack
One of the latest investors is Black Gold Suites, whose third hotel in the Bakken region is now in development. Black Gold Suites currently owns and manages hotels in Tioga and Stanley. Black Gold has the desired Bakken amenities dialed in: fully equipped kitchenettes, large flat screen TV’s, king sized beds, a daily hot breakfast, fitness center, guest laundry facilities on site, free high speed Internet, conference room, and a convenience store “for that late night snack.”
Black Gold Suites
More in the Pipeline
“There are a number of new projects soon to be announced in spite of lower oil prices, because the infrastructure is still lacking even to support [the workers associated with] the existing wells,” Vedadi said.
Important disclosures: The information provided herein is believed to be reliable; however, EnerCom, Inc. makes no representation or warranty as to its completeness or accuracy. EnerCom’s conclusions are based upon information gathered from sources deemed to be reliable. This note is not intended as an offer or solicitation for the purchase or sale of any security or financial instrument of any company mentioned in this note. This note was prepared for general circulation and does not provide investment recommendations specific to individual investors. All readers of the note must make their own investment decisions based upon their specific investment objectives and financial situation utilizing their own financial advisors as they deem necessary. Investors should consider a company’s entire financial and operational structure in making any investment decisions. Past performance of any company discussed in this note should not be taken as an indication or guarantee of future results. EnerCom is a multi-disciplined management consulting services firm that regularly intends to seek business, or currently may be undertaking business, with companies covered on Oil & Gas 360®, and thereby seeks to receive compensation from these companies for its services. In addition, EnerCom, or its principals or employees, may have an economic interest in any of these companies. As a result, readers of EnerCom’s Oil & Gas 360® should be aware that the firm may have a conflict of interest that could affect the objectivity of this note. The company or companies covered in this note did not review the note prior to publication. EnerCom, or its principals or employees, may have an economic interest in any of the companies covered in this report or on Oil & Gas 360®. As a result, readers of EnerCom’s reports or Oil & Gas 360® should be aware that the firm may have a conflict of interest that could affect the objectivity of this report.
