- Real Estate
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Nov. 2, 2018
The city of Sioux Falls has surpassed $700 million in building activity through October, continuing a record-setting pace.
In the first 10 months of the year, the city has issued $701.3 million in building permits, up from $624.6 million for the same period in 2017.
The record for building activity was set last year at almost $739.3 million.
Through October, new commercial construction totaled $262.8 million, up from $223.5 million a year ago. Commercial additions and remodeling projects also are up at $194.1 million, compared with $155.2 million.
New residential construction is lagging behind the same time last year. The city has issued permits for 618 single-family houses, down from 682 through October 2017. Apartment units are at 904, down 135 units, and town houses are down 46 units . The total valuation for new residential construction is at $198.4 million, down from $208.4 million a year ago.
The total value of residential remodeling projects is up 22 percent from a year ago, reaching $46 million.
Building permits were issued for several major projects in October including $5.7 million for town houses in the Brooks Crossing development near 57th Street and Sycamore Avenue and $1.2 million for the foundation for Great Shots at the Sanford Sports Complex.
Sioux Falls is $38 million away from setting an annual record for construction.