More lake-front development coming

Your Money Matters

With weather like this, it’s no wonder more people want water-front property! Unfortunately, South Dakota is not known for its abundance of lakes. We take a look at the increase in man-made lakes in the Sioux Falls.

The area around Lake Lorraine in Sioux Falls is shaping up to be one of the most popular shopping centers in the city.

Why? Local developers say people are just drawn to the water.

“It inspires people. It gets them excited. It opens up new opportunities for new businesses. We’ve had people reach out to us wanting to do paddle boarding on the lake, and selling equipment where they can test out kayaks on the lake. So you can get some real specialty things there,” said Steve Van Buskirk, President of Land Development for Van Buskirk Companies.

Steve Van Buskirk says members of his company are heading to Las Vegas soon, to pitch areas like Lake Lorraine to national retailers.

Lake Lorraine is just one of the lake-front properties Van Buskirk Companies is focusing on right now. Cherry Lake Reserve is another growing area, with people wanting to plant roots next to the water.

“I think the interest is up there. We’ve shown that it works really well, and people are willing to do it. It costs more to do things around these things, but people are very willing to pay the premium it takes to get to the lake. It’s not as much as you might think, but they are willing to pay the premium to get it to a lake,” said Van Buskirk.

In Harrisburg, there are more high-end homes being built around the man-made lake near Liberty Elementary School. 

Steve Van Buskirk says lifestyle is key in every aspect of life now. From work, to home, and even when you’re shopping, more people want an experience to remember.

“Before dinner or after dinner. Grab a bite to eat. Maybe they’re doing a little shopping. They can pause and relax and enjoy the environment and let the little kids stretch their legs,” said Van Buskirk. 

Van Buskirk says because of the popularity of the space already available, there is potential for more water features being built in the Sioux Falls area.
 

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