Sioux Falls has done it again. For the sixth year in a row, the city has set a new building record.
The year isn’t over yet, but Sioux Falls has already received more than $740 million worth of building permits, which was the previous record.
From downtown to the outskirts, it seems that almost every area of Sioux Falls is under construction. The City hasn’t released its official numbers yet, but we did the math for you and found out that former Mayor Mike Huether’s prediction around a year ago was correct.
“A lot of that is driven by employment growth,” City Planner Mike Cooper said.
Cooper says the city is experiencing a building boom in all five of the key areas: office, commercial, institutional, industrial and residential.
“All of those add up to what you see is a diverse economic base,” Cooper said.
As the city closes in on another record year, area developers already have plenty of plans for 2019.
“We’re seeing quite a bit of business already within our organization on the residential home side. On the commercial side, we’re seeing things book out to 2019,” Steve Van Buskirk with Van Buskirk Companies said.
Van Buskirk says his company plans to add onto all of its ten single-family subdivisions.
“As a developer, it really got my attention a few years ago when we went from 3,000 people a year moving to Sioux Falls to 5,000 or 5,500,” Van Buskirk said.
“As those employment numbers continue to go up that means there’s more demand for homes to businesses to other services,” Cooper said.
More demand, which is digging up more records for Sioux Falls.
The most expensive projects of the year so far are the Avera on Louise campus, the Minnehaha County Jail expansion, and Citi’s new Sioux Falls headquarters.