User uShare Login | Register
Login
Register

Along with posting photos, videos, and stories, your uShare account lets you post Classified Ads, recipes on What's For Dinner, and Announcements.


58° View Weather Current Conditions Sioux Falls Change Location
Set Weather Options

RADAR LOCATION

TEMPERATURE LOCATION

Share your Photos, Videos, and Stories on uShare! Click here to get started.

News

[0] My Saved Articles
Back to all news

Business

Find local businesses
on the KELO Pages!

 

Prairie Hills Lot Prices Drop

September 28, 2012, 9:50 PM by Angela Kennecke

Prairie Hills Lot Prices Drop
SIOUX FALLS, SD -

Lot prices are dropping in a Southern Sioux Falls neighborhood to spur development in the area.

On Friday, real estate developer Van Buskirk Companies closed on the purchase of 150 lots in Prairie Hills in Southern Sioux Falls. Van Buskirk is buying the lots from the bank once owned by the Jamison Company.

These high-end executive homes can also come at a very high price.  But it is getting more affordable to build in Prairie Hills because lot prices are going down.

"Some prices were really dramatic because they were out of the market.  For instance, we had a $230,000 lot that's about $75,000 now," Real Estate Developer Steve Van Buskirk said.

Van Buskirk's company is buying up 150 lots and has already sold 30 of them under the new price structure, which averages 30 percent less than the original price of these lots. 

"We want to get some activity going and as we get those first houses started then we'll start moving prices back up.  It's a drive to get activity going and neighborhood re-energized and it's working," Van Buskirk said.

Homeowner Megan Jarding and her husband are among those taking advantage of the lower lot prices and are watching their dream home go up.

"The lot was more affordable now, so it made able to build the house. I don't know about more house, but just the house we wanted in the beginning," Jarding said.

Van Buskirk is re-pricing the lots to run between $42,000 and $250,000.  Home values here start at $350,000 and run all the way up to $1.5 million. 

And Prairie Hills is no longer on the outskirts of town, like it was ten years ago when it started.

"We picked this neighborhood because we really enjoy the views and we like the landscape of this area.  We think the location is great and hop on the Interstate and get to East or West side of town in ten minutes.   We like the fact it's close to the mall and grocery store; all the places I go on a weekly basis," Jarding said.

"There's a lot of momentum in this area. It's always been a nice area, but a lot of the services are filling in and this neighborhood is in the heart of it. It's an exciting area.  We get those prices set correctly now and protect character of the houses and start getting momentum people are going to be energized and want to live out here," Van Buskirk said. 

While the lot prices have changed, the covenants on the homes have remained the same to keep continuity in the neighborhood.

Previous Story

Next Story


Comments







 
Find Local Businesses on KELO Pages!

View business

You may also like

SF Judge Considering Another Walmart Lawsuit

9/19/2014 5:41 PM

Homeowners believe the City of Sioux Falls didn't live up to its promise of having a conditional use permitting process for the new store proposed...

Full Story | Watch
Cracked Windshield Forces Jet To Land In Wichita

9/22/2014 1:12 PM

A 50-seat jet flying to Dallas was forced to land in Wichita after its windshield cracked.

Full Story
Great Outdoor Store Recognized By National Magazine

9/17/2014 3:33 PM

Outdoor USA Magazine is giving high marks to a Sioux Falls store.

Full Story
Lake Lorraine Lapping Up Development

9/22/2014 10:10 PM

Work is well underway on a one-of-a-kind commercial site in Sioux Falls.  Lake Lorraine is nearly 100 acres at Marion Road and 32nd Street in wes...

Full Story | Watch
Committee Gives Final OK To Rest Stop Rule Changes

9/16/2014 1:22 PM

A South Dakota panel has approved rule changes in multiple state departments that include allowing the Department of Transportation to regulate newsst...

Full Story


Events