Lloyd Cos. to break ground on $40M development at 57th and Bahnson – Argus Leader

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A 15-acre piece of farm ground insouthern Sioux Falls that's surrounded by development will soon be infilled with apartments and offices.

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A lot set for a future apartment complex stands empty on Thursday, May 21, at the intersection of 57th Street and Benson Ave. in Sioux Falls.(Photo: Erin Bormett / Argus Leader)

A 15-acre piece of farmland insouthern Sioux Falls will soon be infilled with apartments and offices.

Lloyd Companies this summer intends to begin constructionon what would be a four-phased development project at 57th Street and Bahnson Avenue that will bring 10 different buildings totaling 314 apartment units, office space and 4,000-square-feet of retail. The project would also see Bahnson Avenue extended south to Woodsedge Street, the next road south of 57th Street.

The estimated value of construction on the project is $40.5 million.

"We're hoping to break groundby August 1st," said Luke Jessen, development project manager for Lloyd Cos.

All 10 buildings included in the project will be two and three stories. The buildings closest to 57th Street will be have first floor office space and some retail with apartments on the second floor.

Lloyd Cos. has plans for a four-phase, 10-building development with office and apartments at 57th Street and Bahnson Avenue.(Photo: City of Sioux Falls)

Jessen said the apartments will be one to three bedroom units with some studios with rents between $860-$1200 a month.

"The first apartments would open up here in February or March of next year," he said. "Overall for whole property, we're looking at a three-year project."

A lot set for a future apartment complex stands empty on Thursday, May 21, at the intersection of 57th Street and Benson Ave. in Sioux Falls.(Photo: Erin Bormett / Argus Leader)

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Lloyd Cos. to break ground on $40M development at 57th and Bahnson - Argus Leader