Affordable Apartments Filled With Amenities Taking Shape In Northwest Sioux Falls

A new apartment community on the west side of Sioux Falls will offer homes for income-qualified residents in a development filled with things to do.

The Rhys Apartments will offer a four-story community at 4415 W. Crossroads Place, near 12th Street and Interstate 29.
It’s being developed by Denver-based Big Red Development. Developer Ryan Tobin has spent 20 years developing mixed-use and multifamily properties after graduating from Brandon Valley High School.

“We plan to have nicer and more durable finishes, and expanded amenities that are not often present in buildings such as this,” partner Riley McLaughlin said. “We will also have solar panels on the roof to help with utility expenses.”

Lloyd Construction was chosen as the project’s general contractor.
“From our first initial meeting, we were met with character and professionalism, establishing early trust,” McLaughlin said.

The process started about 13 months before we broke ground, “and it was pretty intensive from a pre-construction standpoint,” said Mike Dill, executive vice president of Lloyd Construction.

“We worked closely with their Denver-based designer to continually communicate and update budget as we priced different aspects of the project. We hit the market at the right time and got competitive bids from our subcontractors, so we were able to make it come together the way everyone envisioned.”

The Rhys Apartments project includes 178 two-, three- and four-bedroom apartments, using a wrap-style, four-story building with amenities in the center.
Those include pickleball, basketball and a multisurface court, a playground for younger children, a fitness room and bike repair shop.

The scale of amenities “is one of the most elaborate packages we’ve been involved in,” Dill said. “We toured similar projects in Denver and knew we had to adjust our approach to accommodate the budget, because it’s not something normally seen here.”

A second phase is envisioned as 35-40 units, primarily one-bedroom apartments, that will be geared more toward seniors.

Rent at the Ryhs Apartments will be capped at 60 percent of area median income, but the development will serve 30 to 80 percent of the average median income.
The tax-credit project “stands out for its sheer size,” Dill added. “It’s a unique challenge on the front end trying to make the numbers work.”

After breaking ground late last year, construction progressed through the winter.

“We’re framing the second floor of the first phase, and it’s going well,” Dill said. “Thankfully we had a mild winter, and with the weather cooperating we made good headway with excavation, food and foundation and started to go vertical sooner than we thought.”

Working with Lloyd Construction has been a strong experience, McLaughlin said.

“There’s direct, clear communication with the best intentions of the project at heart,” he said.

The first phase, which includes the community’s amenities, is scheduled to be done in March 2027, with the second phase following about three months later.
Pre-leasing will start this fall, with the entire community being ready for residents by late summer 2027.

“We’re also currently exploring additional uses of housing in a third phase down the road depending on community need,” McLaughlin added.