Craig Lloyd, developer who helped shape modern Sioux Falls, dies at 76
Jan. 29, 2025
Craig Lloyd, the owner and co-founder of Lloyd Cos. and a developer whose projects changed the face of Sioux Falls for decades, died early today.
He was 76.
In a statement, Lloyd Cos. called him “a beacon of inspiration, a visionary, an innovator, a philanthropist and a cherished member of the Lloyd Companies family whose influence shaped the company and our community into what it is today.”
Craig Lloyd founded the business with his wife, Pat, in 1972, dedicating his life to fostering a culture of excellence, innovation and community. Under his guidance, Lloyd Cos. grew to become a leading full-service real estate company, completing multiple projects throughout the Midwest.
His legacy will be felt across the Sioux Falls area and beyond in signature developments that have reshaped downtown Sioux Falls, including The Steel District, Uptown at Falls Park and the Lumber Exchange building, as well as Block 5 in downtown Rapid City. Lloyd is known for the development of numerous corporate headquarters, state-of-the-art data centers and significant multi-tenant retail centers, including Meadows on the River in west Sioux Falls and Dawley Farm Village in east Sioux Falls.
“Our family, our company and the communities we serve are forever changed for the better because Craig Lloyd was part of them,” said Chris Thorkelson, who succeeded his uncle Craig as CEO in 2016. “Craig and the family also planned intentionally for years, anticipating the day when he would no longer be with us. We move forward because of that with a clear vision for how to build on the exceptional foundation he created for us.”
In addition to his professional accomplishments, Lloyd “was deeply committed to family, philanthropy and community involvement,” the company said.
Lloyd served on multiple boards throughout his career, including the board of trustees of Augustana University and the Dakota REIT board at the time of his death.
“Beyond any one organization, though, Craig believed deeply in the power of people and consistently sought to uplift others,” the company said. “He gave generously, often quietly, and made a profound impact in the lives of others that will live on long into the future. As we honor his memory, we remain steadfast in our commitment to carrying forward Craig’s vision and values.”
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