Northeast Radio SD News – Watertown, SD - The high-stakes effort by original developer Jesse Craig to reclaim “The Ruins” in downtown Watertown has officially collapsed, resulting in the forfeiture of over $1.1 million in earnest money and the sale of the real estate to a backup buyer for $6.1 million.

Northeast Radio SD News – Watertown, SD - On June 4, 2026, the United States Bankruptcy Court for the District of North Dakota officially approved the $11.265 million sale of the Watertown, South Dakota real estate known as “The Ruins”. Judge Shon Hastings granted Chapter 7 Trustee Erik Ahlgren’s motion, authorizing the property to be sold free and clear of a massive web of prior liens, mortgages, and legal claims.

Northeast Radio SD News – Watertown, SD - City Manager Alan Stager provided a detailed update during Tuesday’s media briefing regarding a legal challenge facing the city in a North Dakota bankruptcy court. The dispute centers on “The Ruins,” an unfinished 63-unit apartment complex in downtown Watertown that has become entangled in the bankruptcy liquidation of its developer.