What does this year hold for the Sioux Falls economy?
That’s a question business leaders in the community will tackle this week.
Bender Commercial will host its 2019 Sioux Falls Market Outlook on Thursday.
KELOLAND News has a preview of some of the hot topics.
The East Side of Sioux Falls — that’s the direction you will likely see future development.
“In the last ten to 15 years we’ve seen a lot of pressure to grow south, but the City of Sioux Falls is nearly at capacity for sewer,” Bender Commercial Principal Reggie Kuipers said.
That’s why Kuipers thinks this year you’ll primarily see the city push East.
“Also watch the north-west because of the new high school. That will primarily I think be single family housing, maybe some multi-family housing,” Kuipers said.
On top of which areas of Sioux Falls will see growth, presenters at the Sioux Falls Market Outlook will also talk about how people from within the state and outside of South Dakota are investing and buying buildings in the city.
“Right now the Sioux Falls investment market is seeing robust sales,” Bender Commercial Partner Nick Gustafson said.
Last year a record $75 million worth of apartment buildings were sold in the city. Compare that to $35 million in 2017 and the previous record of $58 million in 2007.
“That’s really reflecting the health of the Sioux Falls business community and employment numbers,” Gustafson said.
While those employees might not build as much in the southern part of Sioux Falls, you’ll likely see a lot of growth just a few miles away.
“I think the most fascinating thing this year in the next 12 to 24 months is going to be Harrisburg,” Kuipers said.
That’s because voters recently passed an extension of the city’s trunk sewer line
“The larger developers in the community are going to the northern side of Harrisburg. Now the school district is expanding north, so if Sioux Falls isn’t going to come south, Harrisburg is going to come north,” Kuipers said.
The Sioux Falls Market Outlook is this Thursday. KELOLAND News will bring you the highlights Thursday night on Your Money Matters.