Immediate housing is needed no question but wow it will be developments like that that will give that town a reputation they may not like in only 5 years! The only thing missing in the design sketch are the skanky bars sure to be next door.
Alternatives? Yes limited but considering how mobile most of the workers need to be during this relatively brief phase in the Bakken evolution maybe a well designed RV park would have been the better idea.. and as the need for RV space eventually decreases you easily convert the vacant property into a nice neighborhood of homes w/parks. Alot of these workers would prefer an RV..it's mobile...moves quick ..moves easy... and it's yours.
These apartments will be there for 50 years..count on it. Watford City will be the place young families couldn't wait to move out of :O
Learn something new every time you invest...and take it with you to the next opportunity.