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Development is kicking off on the northeast corner of 57th Street and Sycamore Avenue
Plains Commerce Bank bought 1.25 acres there and is working on a development plan.
“It’s a property we’ve had our eye on a long time, so we’re excited to have it,” executive vice president Jason Appel said.
“We’re excited about the area. Anybody who’s been in that part of town recently will be amazed by the population density. We anticipate that corner being a significant traffic corridor.”
While nothing is definitive, the bank owns enough land for a 5,000- to 6,000-square-foot building. The vision is a development that includes other retailers, similar to what Plains Commerce has at 49th Street and Louise Avenue.
“It’s been good to drive traffic to the branch and quietly advertise ourselves,” Appel said.
It will be the bank’s third location in town. Construction could start in the next 18 to 24 months, he said.
“We’re excited we continue to see growth and continue to add staff. We are deeply invested in the city of Sioux Falls, so we’re proud to grow our footprint and show externally with brick and mortar what we’re experiencing internally as far as growth goes.”
The new southeast location will be near many of the bank’s mortgage customers and close to many others living in apartments who might be prospective customers.
“We have literally hundreds of families we’ve helped purchase homes in that area,” Appel said. “And a lot has changed in our industry with technology, so when we do take the next step, I think there are cool new things we’ll be able to do.”
The bank builds on momentum developer RMB Associates is seeing at 57th and Sycamore, CEO Joel Dykstra said.
“We’re seeing more offices and more houses on the east side of Sycamore south of 57th,” he said. “There’s more development south on Graystone, and we’re halfway there with our Graystone Heights development and seeing very encouraging response there. So we’re pleased with where we are, and what’s going on in that area has been very positive for us.”
Development is kicking off on the northeast corner of 57th and Sycamore.