While some parts of the country are facing a housing market crisis, a community in Siouxland seems to not only be safe, but booming. Dakota Dunes in South Dakota continues to see growth, in both the commercial and residential markets. Reporter Samantha Suttle shows us how the community is expanding.
Dakota Dunes celebrated its 20th anniversary this year and its growth is still on the rise. The 2,000-acre development has sold about 70 percent of its residential property and about 55 percent of its commercial lots. And although the real estate market is experiencing record lows in other parts of the country, Dunes' representatives say the development is selling faster than ever.
"2008, for Dakota Dunes Development Company, will be the best year we've had from a land sales point of view, adding both commercial and residential together. And that takes our 20-year history," says Dennis Melstad, president of the Dakota Dunes Development Company.
Currently there are six different commercial projects, as well as nearly 40 houses, under construction in the Dunes right now. Melstad says he believes the growing medical community is one of the main reasons Dakota Dunes is so successful.