Aug. 16, 2021

One of the last large pieces of land in south Sioux Falls is about to develop.

Signature Cos. is planning to purchase 20 acres on the northeast corner of 69th Street and Cliff Avenue for a mix of commercial and multifamily developments.

Called Stadium Crossing, the plan is to break ground this fall on the first of four apartment buildings, ultimately totaling 250 to 260 apartments, Signature owner Clint Ackerman said.

“We love the general location, we like this infill piece and feel this is primed for final development,” he said. “We think the timing is right for it.”

The apartment complex would include a clubhouse, outdoor pool, fitness center and green space, he said.

The working site plan for the property shows eight additional buildings planned as retail. Some are shown as standalone buildings – potentially a full-service restaurant, bank, convenience store or service-related use – and three are strip malls.

“Our main focus is to get the site prepped for multifamily and then start working on the retail,” Ackerman said, adding that residents could move in by fall of 2022.

The multifamily development is proposed to take about half the property and will require rezoning.

“We did some initial review, and it should work,” city senior planner Jason Bieber said. “I don’t think you can do all commercial there. We have it in our comprehensive plan as a neighborhood employment center, which allows commercial, office and multifamily residential.”

The new apartment development comes amid a historically tight market. Ackerman estimates his portfolio of between 1,200 and 1,300 apartments is more than “99.9 percent” occupied.

“I think we probably have one or two units in our entire portfolio that are not leased,” he said.

Sioux Falls apartment vacancy report shows historically tight market