DAKOTA DUNES, S.D. (KELO) — Dakota Dunes, one of the most prestigious communities in all of South Dakota, has been sold.
It was announced Thursday that a group of local investors led by Connelly Development, bought most of the remaining assets of Dakota Dunes, which includes residential lots, commercial land and the Two Rivers Golf course and country club.
Dakota Dunes, a large self sufficient community near North Sioux City, exploded onto the scenes in the early ’90s with all kinds of development; including homes, businesses, and golf courses.
The ‘master planned community’ was owned by Berkshire Hathaway Energy Company, the parent company of MidAmerican Energy.
But even the snow can’t blanket its potential for more opportunities.
That’s why Connelly Development stepped up to buy the remaining assets.
“The purchase included 158 acres of commercial land, it included 118 acres of Two Rivers Golf Course, it included the 25 existing residential lots in the country club area, and it included the 25 acres of undeveloped residential land within the country club area here,” Bart Connelly said.
Rod Slater is going to be the general manager and head golf professional at the Two Rivers Golf Course.
“This is obviously very exciting news and I couldn’t be more pleased to be a part of it and I look forward to future years and to serve customers at our beautiful golf course,” Slater said.
What will change is the landscape.
“I think what you will see is with some new investments and new streets and new infrastructure; maybe breaking up some of the larger parcels that have been here for quite awhile,” Chris Bogenrief, President of NAI United said.
He says that’s what businesses have been wanting. Bogenrief thinks what would have taken another 20 years to develop will now be developed within five to 10 years due to the proposed changes.
“The beauty of Dakota Dunes is it gets to enjoy the tax climate of South Dakota, but yet it’s only five minutes to downtown Sioux City,” Bogenrief said.
Purchase price for the remaining assets was close to $5.4 million.