SIOUX FALLS, S.D. (KELO) — Business is booming at the new Landscape Garden Center location on 271st Street on the south side of Sioux Falls, but there’s also plenty of activity happening at their former Minnesota Avenue location.
A look at the plan for the new 81 Gardens Development in tonight’s Your Money Matters.
“The entire development is 7.5 acres, sits right on the northwest corner of 81st and Minnesota which will be that next stoplight north from Walmart development,” Ryan Tysdal, the VP of Commercial Real Estate for VanBuskirk Companies said.
The success of the retail development at 85th and Minnesota has made the opening up of the former Landscape Garden Center land even more attractive to developers.
“The impetus having Walmart allowed for immediate boost in commercial sales, known that Walmart is going to perform and drive a lot of traffic,” Raquel Blount, the VP of Commercial Real Estate at Lloyd Companies said.
“Having a retail anchor like that, it is the catalyst for so many other pieces of development as we’ve seen with Aldi and Dollar Tree and Silverstar and Starbucks, Scooters, Burger King, mushroomed out from there,” Tysdal said.
Now this open land has become an opportunity for even more retail and services to come to this growing southern shopping hub in what has already become a thriving residential area of Sioux Falls.
“Population growth drives everything,” Blount said. “Once you have that density, housing growth and schools, your anchor stores then you’ll start to see those shop spaces pop up and the service user.”
That’s exactly what is planned at the new 81 Gardens development where an office building is already going into the back side of the property, but plenty of other commercial building will soon be happening.
“Some of that service level where you have potentially your dentist, hair salon, supporting that growing need across the area,” Blount said.
Both Lloyd Companies and Van Buskirk Companies are working to secure commercial tenants for the new development. They’re not ready to announce any of those deals yet, but say the future addition of Highway 100 nearby is also a huge attraction for more national retailers.
“Veteran’s Parkway is anticipated to have 50,000 to 60,000 cars a day, which is equivalent to Interstate 29 through Sioux Falls currently, retailers love that traffic, restaurants love that traffic, existing retail and further development of veterans parkway,” Tysdal said.
The 81 Gardens development isn’t the only new project happening in the area, just south of 81st Street and north of Schulte Subaru is another open piece of land that is expected to see some new development in the near future.