Sioux Falls, SD
Jim Dunham is developing two more apartment complexes in Sioux Falls.
Sunset Villas, a 120 unit complex, is planned for West 26th Street and Katie Avenue. The $11 million complex will be located across the street from St. Katharine Drexel Catholic Church. 68 apartments will be complete by the fall of 2015. Another 52 units are expected to be done by the summer of 2016.
"We're going to West 26th Street because nobody is building on that side of town. It's a unique opportunity and we've established there is a need out there," Dunham said.
At the same time, Dunham will put up another $12 million complex at 69th Street and Southeastern Avenue in southern Sioux Falls. Emerald Valley will have 132 units and underground parking. Half of the units will be done by the fall of 2015, with the rest complete by the summer of 2016.
"69th and Southeastern--we'll be competing a little more with direct competition; but we're a little bit different because we're the only one out there doing underground parking," Dunham said.
Dunham is also constructing the Dakota Pointe apartments on Grange Avenue by Costco. Dakota Pointe, with its 276 units, is the most expensive complex going up on the city right now at $26 million dollars. 138 apartments will be finished this fall. With the additional two new projects, Dunham will have $55 million in apartment construction in the city this year.
Dunham's apartments are managed by his wife Linda Dunham and their company, Solutions Property Management.