Building Boom Across Sioux Falls
by Rachel Skytta, Reporter
October 31, 2013 4:56 PM
Driving around Sioux Falls, chances are you will come across some type of construction project. New businesses are popping up across the city, and that trend is expected to continue.
"We're very optimistic that the growth that we're seeing in Sioux Falls right now will only continue," said Slater Barr, Pres. of Sioux Falls Development Foundation.
Barr says Sioux Falls has the 9th strongest local economy in the nation.
"Five years ago there wasn't a new CNA building on the river, there wasn't a Hilton Garden Inn on the river," said Barr.
Between the construction of the Denny Sanford Premier Center and new businesses at the Sioux Empire Mall, business in Sioux Falls really is booming.
The La Quinta Inn near 41st St. and I-29 is going up fast, and is just an example of the amount of demand for accommodations in Sioux Falls.
But temporary accommodations aren't the only things going up around the city. An average of 25 hundred new residents flock to Sioux Falls each year, accounting for roughly 665 new single family homes, and 12 hundred apartment units.
The real boom is in commercial building. Sioux Falls has already issued a record $536 million in construction permits this year. That's $200 million more than 2012, and city officials expect to round off the year at $550 million.
"It's kind of hard to imagine where we'll be with the current state of development, but it's an exciting future to contemplate," said Barr.
Although they haven't been announced yet, city officials say there are a number of major construction project sin the works for 2014.