MINOT, ND—Not surprisingly, theoil boom in North Dakota is fueling demand for more healthcareservices. As the population booms in once-sleepy hamlets in thenorthwest part of the state, healthcare providers are feeling theneed to expand their services to keep up with an influx of peoplerelocating in the area to work in the ever-expanding oil productionbusiness.

One place seeing substantial growth is Minot, a city that sawonly mild population gains prior to the early 2000s. However, eversince oil production ramped up in the Bakken Oil Formation justmore than a decade ago, the city's population has jumped from about35,000 residents to more than 46,000.

To keep up with demand, a national healthcare development firmand its partner in the project, Bismarck, ND-based St. AlexiusMedical Center, have started construction on a future 67,000 squareambulatory care center building on a greenfield site in thenorthwestern part of town.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.