The number of homes under construction and the available lots for building homes are growing in Grand Forks, according to local officials.
New apartments, townhomes and single-family homes constructed this year combined could come in at more than 1,500 units, according to City Planner Brad Gengler.
“We’ve seen a dramatic increase (in construction),” he told a crowd gathered at the Chamber of Commerce office Wednesday in Grand Forks.
Gengler was part of a panel providing an update on the city’s tight housing market and progress made in increasing its housing inventory.
The amount of land available for building homes also is expected to grow. More than 200 lots of various sizes should be available for homebuilding in the next year or so, Gengler said.
The city’s lack of housing is likely behind its rising home values. The median home value for Grand Forks has risen by at least $9,000 each of the past two years, according to census data.
While the demand for housing still seems to outweigh supply, the spike in construction is a sign the city’s lack of housing is being addressed, according to Barry Wilfahrt, president and CEO of the Chamber of Commerce
“We’ve made tremendous progress this year,” he said.
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A new online housing tool also debuted during the meeting. You can find it here if you didn’t click an of the above links. The city is looking for feedback on the site so give a look and shoot its staff an email or give them a ring at 311.