Five years ago, hardly anyone lived downtown Sioux Falls. Now there are some 250 downtown lofts with plans for more. This weekend you can check them out as part of the Downtown Loft Tour, including the newest Phillips Avenue Lofts.
The new Phillips Avenue Lofts built by Lloyd Companies aren't your typical apartments.
"We have exposed ducts in our ceilings--we have 10 foot ceilings, 12 foot ceilings and 14 foot high ceilings," Craig Lloyd said.
They also have that wow-factor with high-end finishings like ceramic tile, stainless steel appliances and fireplaces.
"They want all the things they have in their home today because a lot of our people are coming out of a home, moving into this. Either that, or they came from another town--Boston, Minneapolis, Chicago," Lloyd said.
This is the fourth loft building Lloyd has constructed downtown. The 86 lofts to be complete by August 1 start at about 700 square feet and rent for $800 a month and up.
The largest unit in Phillips Avenue Lofts is more than 1,600 square feet and rents for more than $2,900 a month and it already has a tenant.
"What surprised me is the demand is there for the price range we're at," Lloyd said.
24 of these lofts are already rented. Lloyd says people are drawn to the views of the more than 200 acre Falls Park right across the street.
"Where else can you be in the center of a town, be across from a park? That's our central park. And it's kind of neat," Lloyd said.
With new businesses coming downtown, Lloyd expects the demand to continue for downtown living.
"People with spendable income, which is going to help our restaurants, shops, activities--everything else that happens downtown. It's going to be a happening area," Lloyd said.
Lloyd would like to construct more lofts to the north and south on Phillips Avenue.
Downtown Sioux Falls Loft Tour: Saturday, May 10
10 a.m. - 4 p.m.
Register at the DTSF office, 230 S Phillips Avenue, Suite 102, from 9:30 a.m. - 3 p.m.
Cost is $5 per person, and kids 12 and under are free.
The funds raised through the Loft Tour are used to offset the cost of facilitating/promoting the event and to support downtown revitalization projects.
Participating Properties Include:
- Boyce Greeley
- City Center Apartments
- Crane Centre
- Dakota Lofts
- Harvester Building
- Larson Square Lofts
- Phillips Avenue Lofts
- Rehfeld's Loft
- Shriver Square Lofts
- The Frank Building
- Uptown Exchange Lofts