Roers Closes Sale of U32 and T Loft Apartments

U32 Ph 1 & 2 exterior

Roers recently announced it has closed on the sale of U32 Apartments and T Loft Apartments in Fargo, ND.

In 2005, Roers brought the concept of premier private student housing to North Dakota State University and has become the leader of off-campus student housing with top notch amenities, security, and all-inclusive rent payments. Between T Lofts and U32 Apartments these projects have provided 414 units of premier housing to the North Fargo community. The Roers team developed, constructed, and managed T Lofts and U32 Apartments. During this time, the team served thousands of residents with a premier living experience and had the opportunity to be a resource for college students to have a great living experience right next to campus.  “With the recent success of leasing our buildings with over 95% occupancy rates, we were aware these properties were in optimal position to sell, especially with the current low interest rate environment, commented Danielle Paulus, Roers Chief Operating Officer.

HB Ledges Management, based in Arizona, has taken over ownership and property management of both properties. HB Ledges has experience in student housing and is excited to invest in North Dakota. The Roers team will continue to be a resource for the new owners as consultants during the first year.

“We are excited to be investing in the Fargo market and look forward to continuing the premier experience Roers provided at the buildings,” said Howard Berger, Managing Director for HB Ledges.

T Lofts is located across from the NDSU campus just off 12th Avenue. Built in 2012, the property has 181 units and is equipped with amenities perfect for students to enjoy from fitness rooms, study rooms, lounge with billiards, and underground parking. All amenities plus air, heat, internet, and cable are all included in one bill for added convenience. Students transitioning from on-campus living find T Lofts an excellent option as it is within walking distance to campus and many other local attractions in North Fargo.

U32 Apartments  was built in 2017 and has 233 units. U32 is known as Fargo’s first amenity-rich, lifestyle-driven, all-inclusive living experience. Some of the sought after amenities include state-of-art fitness center, outdoor courtyard with basketball court, beach volleyball court, patio grill, and fire pit areas, indoor swimming pool and hot tub, sauna, racquetball court/yoga studio, community lounge, study rooms, underground parking and more. U32 is located at 1151 32nd Ave N in Fargo.

Jim Roers, CEO of Roers, is excited as he looks forward to the next development. “This is a wonderful opportunity for Roers to take this success and invest back in the community with future projects. We have excellent opportunities for additional projects near campus and throughout this community and we are already working behind the scenes to determine our next steps,” Roers commented.

Roers currently manages properties for outside owners as well as owns and leases various properties including apartment complexes, several townhomes and single-family homes throughout the Fargo-Moorhead and Dickinson communities. 

For more details on Roers including development, construction, property management or real estate, please visit roers.com.

Creating Partnerships is Key to Florida Project Staying on Task

The Roers Development team is extremely pleased with the progress of the Cape at Savona Point project. The construction crew is ahead of schedule! The goal is to have the first 40-plex completed in late Spring 2020. The construction process has been flawless.  The contractor understands the design build process and is excellent at value engineering. Developing strong partnerships has been key to this project running smoothly.

Matt Nygard, Project Manager with Roers Development, had this to say about working on a project over 1,900 miles away – “You realize how valuable “time”  and “trust” are.  There is no running down the street to verify something.  When I’m physically in Florida, the site walk through with the superintendent, architect, and project manager is the most important time of my month.   A beneficial strategy we have is a weekly conference call with the previously mentioned professionals.  These calls are important to keep the project moving forward.  If there are items that need a deep dive, we discuss those offline with the appropriate professional to keep the meeting moving forward.  We are learning things a long the way and with our integrated software program, our team of professionals is able to make quick decisions and keep track of them.”

Keep up to date on the progress of this project on roers.com.

Exciting Times for the City of Moorhead

Roers and the City of Moorhead (the “City”) have recently announced their plan to enter into a predevelopment agreement with the option for the City to purchase real estate property with Roers. The partnership will lead to identifying redevelopment opportunities for the existing Moorhead City Hall, located at the 500 block of Center Avenue in Moorhead, and surrounding City-owned property. The predevelopment agreement provides Roers Real Estate Services to take representation of City-owned property in order to explore potential partnerships, which may lead to a comprehensive redevelopment plan for the City owned property. Roers and the City have entered into a professional services agreement, therefore a public bid for the services was not required. Roers will not be compensated in any manner until a City approved plan is developed. As part of the joint venture, Roers and the City will focus on a win-win situation for all parties including the Moorhead Center Mall property owners, Downtown Moorhead Inc., residents and business owners of Moorhead. Moorhead Center Mall is privately held, therefore these properties will maintain standard operating. Both the City and Roers recognize these businesses have been vital to keep the mall a destination for the community. Roers will partner with Moorhead Center Mall property owners to identify future opportunities as plans for the City progress. Downtown Moorhead Inc. and the City of Moorhead have begun to embark on a downtown planning effort, which is currently engaging citizens and business owners in creating a vision for Downtown Moorhead. Any project concept Roers would develop for City-owned property will be consistent with the vision of the Downtown Master Plan currently being drafted. “We anticipate this partnership with the City of Moorhead is just the beginning of major growth for the entire Moorhead community. With the excitement the Moorhead residents and business owners have around the plans for revitalization in the downtown sector, there are abundant opportunities for growth. Its an exciting time for the community,” commented Jim Roers, CEO of Roers.

St Paul Newman Center Ground Breaking

The Groundbreaking Ceremony for the St. Paul Newman Center was held on Monday, June 24. Over 125 people were in attendance to celebrate this momentous occasion as the long awaited project begins. Special guests in attendance included Rev. James Cheney, Newman Center Pastor & Director; Dean Bresciani, NDSU President; Tim Mahoney, Fargo Mayor, Most Rev. John Folda, Bishop of the Fargo Diocese; Jim Roers, CEO of Roers and Larry Nygard, President of Roers Development.

In 1928, the first religious organization of the campus of North Dakota State University was established. The current facility was constructed in 1958, and has grown to serve thousands of students. With the growth of the NDSU campus and the thriving campus ministry of St. Paul’s Newman Center, there is a need to build a new facility to better serve the community. The groundbreaking of the new chapel and the student housing project, to begin at a later date, will serve the campus with the ever growing needs and continue to serve the community in a great capacity.

New Apartment Complex Planned in Cape Coral

Roers Development is working with the city planners in Cape Coral, Florida, to find a solution the city is facing with the lack of multifamily housing. Roers has plans to develop, The Cape at Savona Parkway, a new 320 unit, four-story apartment complex in southwest Cape Coral. The development is in a prime location just off of Savona Parkway and in close proximity to many schools, making it an excellent location for families. Larry Nygard, Roers Development President, stated, “The development will help broaden the housing options available in Cape Coral, particularly for the working class, and could draw commuter residents from Fort Myers.” In 2017, Forbes named Cape Coral/Fort Myers as the fastest growing cities in America. The resort-style complex will include one, two and three bedroom apartment homes. The complex will feature a pool area with clubhouse, recreation area with indoor and outdoor kitchen spaces, cabanas, tiki hut, areas for pet exercise, playground, walking trails, pickle ball court and more. The goal is to have the first set of buildings available for rent in June 2020.

St. Paul Newman Center

Since 1928, the St. Paul Newman Center has been a focal point for the NDSU campus. Roers is proud to be partnering with the Newman Center for a significant construction project which will allow the overcrowded center to serve even more community members. Over the years, the Center grew its campus presence and services, which led to the need for a larger complex in the 1970’s. The Center has grown drastically since then and continues to grow with engagement of thousands of students. The project will consist of a new 500-seat chapel, student commons, parish hall, kitchen, coffee shop, bookstore, administrative offices, classrooms and priest residences. With student enrollment continuing to increase and the overwhelming desire for student housing close to campus, the construction project will also include 24 units of faith based housing, 85 apartment units and a potential for 11 single-family town homes. The project has been discussed since 2014, and Roers is working with the Newman Center to ensure all considerations are taken into account to provide the best features for the Center and those it serves. Larry Nygard, President of Roers Development, commented, “The expansion of St. Paul’s Newman Center will continue to provide a “home-away-from-home” as it has for many decades – including ministry program, faith based relationships, campus activities housing opportunities to NDSU students and other low income residents who will be close to campus in a secure and convenient environment.” The $40 million project will be constructed on 12th Street and University near the southeast entrance to North Dakota State University. Construction timeframes are still in the works.