Woodmont Company, the developer of north Bismarck’s Hay Creek Shops, has defaulted on the land purchase for the retail development. This has temporarily stunted construction; however, the land owner, Ron Knutson, is seeking another developer, according to a Bismarck Tribune interview. He further states that the deal is still “about 95 percent likely.”
Construction is expected to resume within a few weeks, with original tenant commitments intact.
UPDATE (08/28/2014): The Bismarck Tribune is reporting that a new investor has been secured to continue the development.