XML 37 R24.htm IDEA: XBRL DOCUMENT
v2.4.1.9

COMMITMENTS AND CONTINGENCIES (Tables) | 9 Months Ended
--- | ---
Jan. 31, 2015
COMMITMENTS AND CONTINGENCIES [Abstract] |
Development. Expansion and Renovation Projects | Development, Expansion and Renovation Projects. As of January 31, 2015, the Company had several development, expansion and renovation projects underway or placed in service during the quarter, the costs for which have been capitalized, as follows:
|  |  |  | (in thousands) |  | (in fiscal years)
Project Name and Location | Planned Segment |  | Rentable Square Feet or Number of Units | Anticipated Total Cost | Costs as of January 31, 2015(1) |  | Anticipated Construction Completion
Commons at Southgate - Minot, ND(2) | Multi-Family Residential |  | 233 units | $ | 37,201 | $ | 34,612 |  | In Service
Minot Wells Fargo Bank - Minot, ND | Retail |  | 4,998 sq ft |  | 3,288 |  | 3,185 |  | In Service
Cypress Court II – St. Cloud, MN(3) | Multi-Family Residential |  | 64 units |  | 7,028 |  | 6,638 |  | In Service
Arcata - Golden Valley, MN | Multi-Family Residential |  | 165 units |  | 33,448 |  | 30,384 |  | In Service
Red 20 - Minneapolis, MN(4) | Multi-Family Residential |  | 130 units |  | 29,462 |  | 28,330 |  | In Service
Roseville 3075 Long Lake Rd - Roseville, MN | Industrial |  | 202,807 sq ft |  | 13,915 |  | 8,900 |  | 4Q 2015
Minot Office Center - Minot, ND | Retail |  | 7,963 sq ft |  | 2,923 |  | 1,802 |  | 1Q 2016
Renaissance Heights - Williston, ND(5) | Multi-Family Residential |  | 288 units |  | 62,362 |  | 54,713 |  | 1Q 2016
Chateau II - Minot, ND | Multi-Family Residential |  | 72 units |  | 14,711 |  | 11,257 |  | 1Q 2016
Edina 6565 France SMC III - Edina, MN | Healthcare |  | 57,479 sq ft |  | 34,665 |  | 16,668 |  | 1Q 2016
Cardinal Point - Grand Forks, ND | Multi-Family Residential |  | 251 units |  | 40,042 |  | 19,885 |  | 2Q 2016
Deer Ridge – Jamestown, ND | Multi-Family Residential |  | 163 units |  | 24,519 |  | 11,202 |  | 2Q 2016
PrairieCare Medical - Brooklyn Park, MN | Healthcare |  | 72,895 sq ft |  | 24,251 |  | 12,195 |  | 2Q 2016
71 France Phase I & II - Edina, MN(6) | Multi-Family Residential |  | 181 units |  | 52,055 |  | 20,787 |  | 3Q 2016
Other | n/a |  | n/a |  | n/a |  | 2,547 |  | n/a
|  |  |  | $ | 379,870 | $ | 263,105 |  |
(1) | Includes costs related to development projects that are placed in service in phases (Renaissance Heights - $46.0 million).
(2) | The Company is currently an approximately 52.9% partner in the joint venture entity constructing this project; the anticipated total cost amount given is the total cost to the joint venture entity.
(3) | The Company is an approximately 86.1% partner in the joint venture entity constructing this project; the anticipated total cost amount given is the total cost to the joint venture entity.
(4) | The Company is an approximately 58.6% partner in the joint venture entity constructing this project; the anticipated total cost amount given is the total cost to the joint venture entity. The anticipated total cost includes approximately 10,625 square feet of retail space.
(5) | The Company is an approximately 70% partner in the joint venture entity constructing this project; the anticipated total cost amount given is the total cost to the joint venture entity.
(6) | The project will be constructed in three phases by a joint venture entity in which the Company has an approximately 52.6% interest. The anticipated total cost amount given in the table above is the total cost to the joint venture entity of the project's first and second phase. The expected total project cost for all three phases is approximately $73.3 million for a total of approximately 241 residential units and approximately 21,772 square feet of retail space.

X
- Definition Tabular disclosure of an enterprise's obligations to construction, development and renovation projects in the near future under existing contracts or agreements. + References No definition available. + Details
Name: | iret_DevelopmentConstructionCommitmentsAndContractsDisclosureTableTextBlock
Namespace Prefix: | iret_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_CommitmentsAndContingenciesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration