Feb. 13, 2025

As the community of Rock Valley, Iowa, recovers from ravaging floods, Sioux Falls-based Lloyd Cos. is developing multiple projects to meet the need for more housing.

Even before the floods of last summer, the northwest Iowa community was experiencing a housing shortage, leaders said.

“Post-disaster, we’ve estimated 150 to 200 homes will need to be demolished due to the level of damage,” David Miller, development director for the city of Rock Valley, said in a statement from Lloyd Cos.

“Our housing market already was tight. We’re a growing community and county, and with the natural disaster, it upset our whole housing market.”

Lloyd Cos., in partnership with Schafersman Development, is developing both single-family and multifamily living options that will become available to the community as soon as this spring and summer.

The Valley Vue development is on the northeast side of town on property controlled by the community’s economic development corporation that’s outside of the flood-impacted area.

The first 10 homes in the neighborhood are projected to be complete starting in late spring or early summer of 2025, offering two-bedroom, two-bath layouts and three-bedroom, two-bath designs, all with garages and unfinished basements. Prices will range from $280,000 to $350,000.

“Our homes are thoughtfully designed with finishes that provide the perfect foundation for modern, comfortable living and combine quality with style to meet a variety of needs,” said Marisa Foster of Lloyd Cos., who has the properties listed for sale.

“These homes are built with care to provide affordable, quality housing and address a need within the community. After the devastating flooding, we hope these homes bring comfort and stability while supporting the community’s efforts to rebuild and grow.”

Homes will feature carpeted areas, LVT flooring, laminate countertops and wood-faced cabinets.

“While the homes are primarily designed as spec homes to ensure a streamlined building process and quicker move-in timelines, there will be some opportunities to upgrade specific features in the future phase,” Foster said.

“These upgrades will depend on the stage of construction and individual budget considerations, allowing buyers to add personal touches to enhance their home.”

Valley Vue Apartments will be built adjacent to the single-family homes, each with 36 units in two-story buildings.

The one-, two- and three-bedroom floors plans will offer ground-level and upper-floor apartments beginning in the fall.

“We had been looking at Rock Valley before the flood because of the industry that’s there and the fact that they were experiencing a housing shortage, so we were already interested, and then the flooding exacerbated the housing problems,” said Byron Schafersman of Schafersman Development.

“Given the level of economic activity in Rock Valley, we think these will absorb well.”

Rock Valley, which has a population estimated at 4,150 people, has grown 30 percent in the past 20 years, Miller said.

“It’s being driven by manufacturing and industrial growth, which are the bulk of our employment, in addition to the ag side with corporate farming and dairies nearby, plus our hospital and schools.”

The community was talking with Lloyd Cos. about multifamily housing even before the flood, Miller said.

“And then after the flood, they stepped up with single-family too and recognized the need,” he said.

“It’s going to offset our net loss of housing as a community but also give people some answers to their housing needs.”

For Lloyd, “our experience in apartments and being able to mobilize crews that are used to working on multiple units at the same time really allows us to make this development possible,” said Luke Jessen, vice president of development. “And our truss facility in Brandon, South Dakota, supports this building activity by allowing us to bring in wall panels and trusses and sequence delivery.”

The building activity is providing a boost for morale in the community too, Miller said.

“It’s great to see some dirt flying and infrastructure going in. It helps people know we’re working for them and advocating for them,” he said. “When you drop that many units into a town this size, that’s a big win for us, so we’re excited about it.”