July 13, 2024

Housing Finance Development

It's Your Housing Finance Development

Sioux Falls’ Stadium Crossing housing, commercial development updates

Construction workers build a multi-family apartment building on Tuesday, October 18. The building is part of the Stadium Crossing development on 69th and Cliff in Sioux Falls.

The new Stadium Crossing development at 69th Street and Cliff Avenue in Sioux Falls is coming along nicely, said Zach Jacobsen, a finance broker at Signature Companies, who is developing the project.

Stadium Crossing, across from the University of Sioux Falls Sports Complex and stadium, will feature 258 multi-family units and eight retail/commercial buildings. Construction started earlier this year.

“The development’s really taken off, and we’ve seen a lot of demand for it,” Jacobsen said.

He’s anticipating Stadium Crossing will be at least 90% completed by the end of 2024. Here’s how it’s shaping up so far:

Earlier:258-unit luxury apartment complex and several retail spaces to be built near USF Sports Complex

One of the six leased commercial lots, called The Bloc, will soon house Starbucks, Year Round Brown, Gloss Nails and Cookie Co.. The businesses all plan to open at the end of December or early January, pending the completion of construction.

All of the parking lots and access easements for the development are finished, and construction is well underway on the first phase of the housing part of the development, Jacobsen said.

Construction is underway on the Stadium Crossing clubhouse and 110-unit apartment building on Tuesday, October 18.

The clubhouse and 110-unit apartment building in the middle of the complex will be done in the spring, as will a second retail plaza with five suites between 11,000-17,000 square feet each. Once that is filled up, they’ll get started on building the next one, which will turn next fall, Jacobsen said.

Another 52 housing units will also turn next fall, and two 48-unit apartment buildings should be completed that winter or in the spring of 2024, he said.

Next to look forward to is the new convenience store and gas station, which will soon break ground along 69th Street.

The three phases of Stadium Crossing, with four garages to the north, four buildings for multi-use housing within the complex and eight outer commercial or retail spaces to potentially build by 2023.

“There seems to be a need for a c-store over there, so it will be a great spot for it,” Jacobsen said.

The corner lot on 69th and Cliff is the future home of a casual, family-friendly restaurant with a patio. The deal should close in the next couple weeks with the announcement of the restaurant, and the plan is to break ground in November and open in the spring, Jacobsen said.

Signature Co. just closed on another lot, and though he didn’t disclose what the business is, Jacobsen did say it is by local owners.

Construction nears completion on The Bloc on Tuesday, October 18. The space, which part of the Stadium Crossing development, will feature a Starbucks, Year Round Brown, Gloss Nails and Cookie Co.

The two strip malls that aren’t in progress yet will eventually have end caps with drive-thru capabilities. Signature Co. has started marketing them, but Jacobsen said most people like to wait and see the shell before signing a lease. Once the shell is up, it typically takes 10-12 weeks for a buildout, he added.

“With the way the southeast side is growing and it being a hot area, I suspect it won’t take long to fill those up,” he said.