Five-story project to bring shopping, dining, housing to Uptown block

By Jodi Schwan

A $43 million project with stores, restaurants and an apartment complex filled with amenities is planned for 2.5 acres in downtown’s Uptown area.

The city of Sioux Falls announced Tuesday it is working with Lloyd Cos. to develop the area between Phillips and Main avenues from Second to Third streets.

“This great investment will create exciting opportunities to live, work and play in our thriving downtown,” said Daren Ketcham, the city’s director of community development. “The quality and density of this development will transform this underutilized and blighted property into a downtown destination.”

Lloyd Cos. recently bought the area along Main Avenue that includes some aging buildings, which will be demolished, and plans to buy the city’s land along Phillips if the City Council approves.

The redevelopment would include two buildings with street-level retail along Phillips and an apartment complex featuring an outdoor pool and large courtyard.

“We are committed to making the city’s vision for this area of downtown into reality,” said Chris Thorkelson, CEO of Lloyd Cos. “We plan to create something unlike anything available to residents and visitors downtown today and look forward to breaking ground.”

Mike Cooper, the city’s planning director, announces the development plans with Lloyd Cos. for Uptown.

The city received five proposals for the property, which were evaluated by a committee. Elements of the Lloyd proposal include:

  • More than 20,000 square feet of commercial space along Phillips Avenue.
  • More than 200 apartment units.
  • More than 260 underground parking spaces spanning the entire site.
  • More than 50,000 square feet of outdoor common space featuring amenities and landscaping.

The apartments will range from studios to jumbo units and include decks with some views of Falls Park.

“These living spaces will mix traditional and modern building materials to create sleek spaces where we think people will love to live,” Thorkelson said. “We see this area offering a complete lifestyle, from co-working opportunities to recreation right out your door.”

The project will require some tax increment financing, which is subject to a vote of the City Council.

“We think this site is a textbook example of why this sort of financing exists,” Thorkelson said. “The city takes a thorough and responsible approach to evaluating projects that need the assistance of TIFs before moving a plan forward. When we’re done, we will have significantly cleaned up a contaminated area of downtown and turned it into a property that will help grow our tax base for generations.”

Assuming the City Council approves, construction could start as soon as October. The plan is to open the first building on Phillips Avenue in the spring of 2019 before concerts begin at the future Levitt Pavilion across the street.

Since completing Phillips to the Falls in 2004, several million dollars in private reinvestment has been made downtown as the city has made land available. Lloyd Cos. developed several projects in the area, including the Phillips Lofts, Uptown Exchange, Larson Square and Tri-State Creamery building.

Lloyd estimates it has invested more than $100 million in downtown revitalization over the past two decades.

Five-story project to bring shopping, dining, housing to Uptown block

A $43 million project with stores, restaurants and an apartment complex filled with amenities is planned for 2.5 acres in downtown’s Uptown area.

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