PARSHALL, ND – HOW THE COLDEST PLACE HAS GIVEN RISE TO TODAY’S HOTTEST INVESTMENT OPPORTUNITY

• Parshall oilfield discovery triggered North Dakota black gold boom (EIA)
• Oil boom city of Parshall celebrates centenary with game-changing Transhudson Hotel – Parshall (NDD Group)
• Hottest property investment in North Dakota from $89,950 (NDD Group)

100 years ago, a handful of settlers founded the small community of Parshall in North Dakota, USA. It was best known for being the coldest place in the state (a record low of -60°F/-51°C has been in place since 1936) and for being home to the Paul Broste Rock Museum (think polished stones, rather than long-haired guitarists).

The discovery of the Parshall oilfield in 2006 changed all that. The Energy Information Administration’s interactive map of the intensification of drilling in the Bakken Formation shows that it was the Parshall oilfield discovery that triggered the state’s boom, as oil companies suddenly began looking at North Dakota in a new light.

Today, Parshall is a thriving city brimming with oil and service sector workers who have headed to North Dakota to seek their fortunes. Accommodation in the city has struggled to keep up with the influx of workers, as Robert Gavin, Group CEO of specialist accommodation developer NDD Group, explains,

“Parshall, like a number of North Dakota cities, was faced with more workers than it had capacity for, as news of the state’s oil boom spread across the US. Tiny motor inns and bed and breakfasts were bursting at the seams. As soon as I visited the city, I knew that Parshall was the right location for NDD Group’s new hotel, the Transhudson Hotel – Parshall.”

The hotel is one of NDD Group’s latest ventures in North Dakota, where its Great American Lodge sites have already met with resounding success. Investment in the Transhudson Hotel –Parshall is from $89,950. The company’s other development, the Transhudson Apartments – Williston Heights (investment from $150,945), is located in the nearby boomtown of Williston. Gavin continues,

“The Transhudson Hotel – Parshall is going to be a real game-changer. I’m delighted to be part of such a large-scale modernisation scheme in the city. Parshall has changed significantly even in the few years that NDD Group has been operating in the area. It’s astonishing really how a community can remain largely untouched for nearly a century and then expand so rapidly in such a short time.”

As Parshall celebrates its centenary, residents are no doubt thinking of how much the city is likely to change over the next 100 years. Certainly for the moment the community’s growth looks set to continue. The Parshall-Hankins Airport in Fort Berthold was awarded $600,000 to rehabilitate its runway and taxiway, with the FAA awarding a further $500,000 shortly after. As other infrastructure improvements take place and the Transhudson Hotel – Parshall dramatically increases the city’s capacity, this charming community looks set to start its next 100 years in an extremely positive way.