Homebuilders seek to navigate costs

The high costs of development, building materials and labor are challenges to constructing more homes in Minot, particularly affordable homes, according to a local builder who has been finding ways around the obstacles. Mike Hayes, a long-time contractor, now retired, has been working with Next Gen Builders of Minot on an affordable, single-family housing project in the Stonehaven development along 55th Street Southeast. The 1,150-square-foot homes being built in Stonehaven are proposed to sell for $275,000 in a statewide market in which new stick-built single-family homes haven’t been selling for less than $300,000, according to Hayes. “People ask how we can sell for what we do. It’s because of working together with everybody in the process,” Hayes said. “Affordability is going to have to be a joint venture between developers, builders, subcontractors, suppliers and incentive programs.

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