Feb. 14, 2022

The tower crane is up, and the massive downtown expansion of Cherapa Place is starting to take shape behind the scenes.

“We’re managing through right now,” said co-developer Jeff Scherschligt of Pendar Properties.

“The footings are all in on building two. The west wall, the north wall are up. They’re pouring the walls, and all the water and sewer are in in front of Cherapa 2 and Reid Street. They blasted the entries into the lower-level parking garages, and they’re removing all of that debris, and I understand footings will start for the ramp in the next month.”

But while construction manager at risk Journey Group manages that, Scherschligt and his team, including ISG, are finalizing designs.

And that’s providing an updated look at how the $225 million expansion is coming together:

The Bancorp building

The 10-story office and condominium building known as The Bancorp building essentially is full for office users. Tenants include Eide Bailly, ISG and MarketBeat in addition to anchor tenant The Bancorp Inc.

“Everything from three to eight is 100 percent full. Now, all we have is second floor that is office-related,” said Scherschligt, adding there are more interested tenants than space, but some leases aren’t final yet.

The top two floors are planned for one dozen condominiums, likely ranging from 1,500 to 3,500 square feet.

Three are sold, and “we have a list,” Scherschligt said. “So the priority are investors and tenants in the project, and after that, we’ve got a list of about 50 people who have shown an interest, and we expect it to go pretty quickly.”

The building also includes a 5,000-square-foot connection to the original Cherapa building that will include a rooftop deck and be available for community use during evenings and weekends.

“I don’t think people have a sense yet for what we have here with that interconnect,” Scherschligt said. “It’s really going to be a special place for the community.”

The Bancorp building and the 650-stall parking ramp are scheduled to be built first, with openings in 2023.

The Clark and The Dakota

Initial plans for the Cherapa Place expansion identified buildings simply as B, C and D.

But they all now have names. The third building, now The Clark, and the fourth, The Dakota, are both six stories with a combined 236 apartments, from studios to three-bedroom units.

“From the beginning, I felt like Cherapa has been so steeped in our locale and very prairie, and we’ve embraced that, so I think The Clark is reminiscent of Lewis and Clark but also has a younger, hipper tone,” co-developer Anne Haber said.

“And The Dakota feels a little more high-end. These will be called The Clark at Cherapa Place and The Dakota at Cherapa Place, so that (the naming) was really that simple.”

Both buildings will be built using the same mass timber style as Railyard Flats, which Pendar developed and opened last year.

“I love the environmental aspects of it, and we just think it provides a very warm, quality construction project,” Scherschligt said.

“There’s a difference. There’s long-term quality, and it’s timeless.”

Both buildings include first-floor retail space, which is drawing significant interest, the developers said.

The total available space is 60,000 square feet. Potential uses include fitness, a grocery, brewery and boutiques.

The Dakota is scheduled to open in the winter of 2024, and The Clark is scheduled for spring of 2024.

Updated designs also show the community courtyard included with the development. The vision for that includes space for gathering, events, recreation and public art.

But despite the inspiring new visuals, “this isn’t just pretty pictures” anymore, Scherschligt added.

“That’s what people I think a lot of times don’t realize. This is real.”