Just before Christmas, the city of Sioux Falls set a new construction record. Since then, the values have soared even higher. On Thursday, the City released the final total for 2016.
Nearly $702 million -- that's the value of the permits the city of Sioux Falls issued in 2016. It's the fourth year in a row building permit values have reached a new high, and that momentum may not slow down anytime soon.
We're almost a week into the new year, but thanks to millions of dollars' worth of projects, including the ones at Lake Lorraine, the celebration isn't over for the city of Sioux Falls.
"For the first time we've exceeded $700,000,000 for one year's worth of building permit valuation. Just under $702 million of building permit activity for 2016," Director of Planning and Building Services Mike Cooper said.
Cooper says it's also been a good year for the downtown area, which is home to the $18 million Washington Square project.
"In 2016, we had the all-time record for building permit activity within those boundaries of downtown, just under $52.5 million," Cooper said.
Only 2016 has come and gone, and a clean slate lies ahead. Already, Chief Building Services Official Ron Bell says the City is anticipating a strong year as officials review new plans awaiting building permits.
"Right now, we're looking at $90 million the first week in January and so it's not slowing up. It's still going very, very strong," Bell said.
"When you compare Sioux Falls to other peer communities around the region, the Midwest, our development activity is pretty significant based on our population and city limit size," Cooper said.
Some of the plans currently being reviewed by the City for 2017 include the Gage Brothers new headquarters, which is valued at $19.3 million and the City Administration building, which has a value of $18.4 million.
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