WILLISTON, ND, Nov 10, 2010 -- A ribbon cutting ceremony was held in Williston today to celebrate the completion of the Waters Edge housing development. The development will provide 51 rental units partially funded through a $1.9 million USDA Rural Development guaranteed loan.
“Williston’s economic success has put a strain on housing infrastructure in the area,” said Jasper Schneider, USDA Rural Development State Director. “This development will help build a stronger community as it brings some relief to that housing shortage.”
The development consists of eight buildings with two-, three- and four-bedroom apartments. Among the 51 rental units, three are handicapped accessible. Waters Edge has a community building that holds the rental office, kitchen, computer room, exercise room and community laundry facility. In addition to these amenities, there is a half basketball court and picnic areas. The property is located at 705 fifth street east.
"Waters Edge is a great project that was tremendously needed in our community,” said Williston Mayor Ward Koeser. “Providing affordable housing is critical for our residents and will be greatly appreciated."
The $7.3 million project was developed by Community Development Inc. It was also partly funded by the North Dakota Housing Finance Agency through the federal Neighborhood Stabilization Program (NSP) and the Low income Housing Tax Credit (LIHTC) Program. Other stakeholders in the project include: CommunityWorks North Dakota; Ebenal General, Inc; Federal Home Loan Bank of Des Moines; First International Bank and Trust; North Dakota Department of Commerce; Tri-County Regional Development; and the US Treasury.