Sioux Falls, SD
The need for affordable housing options in Sioux Falls is growing. There are more than 3,800 households on the waiting list right now. Two organizations are teaming up to fill the need.
Using Lloyd Company's construction expertise, paired with the Sioux Falls Ministry Center's mission to help people, the two organizations plan to provide more reasonably-priced housing in the city.
"People's greatest physical need in Sioux Falls is safe and affordable housing. In order for them to move forward in life, they need to have a consistent place where they can go and live each night and an affordable place," Sioux Falls Ministry Center’s Board of Directors Rich Merkouris said.
There is an income limit for those hoping to live in the North Minnesota Avenue apartments.
"We're seeking to reach out to people that are at 30 percent of the average median income, 40 percent of the average median income, up to 60 percent of the average median income. So depending on what your income is, determines what you'll be paying each month for rent," Merkouris said.
With a projected completion date of September 1, the 31-unit apartment complex will be open as affordable housing in the fall.
"I think it's a step in just the further development in Sioux Falls, in terms of revitalizing some of the older areas of Sioux Falls, and in terms of developing our community and our neighborhoods. I think it's going to offer a great opportunity for people," Lloyd Companies Property Manager Glenna Krebs said.
A resident assistant will also live in the building to help connect people living in the complex with other resources in the city.
Lloyd Companies is accepting applications and deposits for the new complex this week.
Learn more about apartment pricing and amenity details online.