As Block 5 Celebrates ‘Topping-Out,’ Lloyd Companies Announces First Restaurant Tenant

The Block 5 development in downtown Rapid City recently reached a milestone, topping out its tenth floor.

“A ‘topping out’ is when we place the final beam on top of the structure,” said Mike Dill, executive vice president of construction at Lloyd Companies.

“The project is moving right along, and we’ve made it all the way to the tenth floor. It’s a milestone for us, because at that point the backbone of the entire project is done and we’re moving on to bigger and better things.”
The public will start to notice crews setting wall panels on the top floor, “so you’ll be able to get a sense for the total height,” Dill said.

“It’s looking more like a complete project, and the public will be able to get a better sense for what the aesthetic will look like.”

Block 5 combines a 117-room Hyatt Place hotel with 132 studio, one and two-bedroom apartments, in addition to its first-floor retail space and hotel meeting space.

Crews are in various stages of completion throughout the 10-story building, including starting drywall in some areas and moving onto painting in others. The entire development is on track for completion in the spring of 2025.

“Our biggest push over the next several months is getting the entire building enclosed and weather-tight before winter, and we’ll be well into finishes at that point as well,” Dill said.
The Block 5 lofts will begin pre-leasing later this year featuring light countertops, concrete floors and vinyl wood in the bathrooms and laundry rooms. The lofts will we also offer upgraded homes with dark countertops, fireplaces, tile showers and more.
Residents can enjoy the lounge with Starbucks coffee, a top-floor community room with a patio and amazing downtown views.

The community can also look forward to an up-and-coming restaurant concept called Toastique that will open at Block 5.

The restaurant, franchised by Adam and Hayley Kaemingk of Rapid City, specializes in gourmet toasts, smoothies, cold-pressed juices, smoothie bowls, craft coffee and more.

The Kaemingks are native South Dakotans and a family of six who have called Rapid City home for the past 19 years.

“We first came across Toastique online when we were researching new businesses we could bring to our active and health-minded community,” Hayley Kaemingk said.

“We felt that there was a need for fast-casual, simple and honest food options in our area. We met with the corporate team, tasted the food, visited several locations and were hooked! We fell in love with the beautiful branding, the welcoming and open space, and the concept of a micro cafe that offered no additive sugars or preservatives in their ingredients with a bonus of vegan and gluten free options. Not to mention – it all tastes amazing!”Hayley, who has nearly two decades of team leadership experience, will run the daily operation, while Adam will support business functions more behind the scenes.

“We look forward to building a team that fits our culture, hiring people that want to be a part of a happy, upbeat atmosphere and who are excited about upholding the quality of our food and service,” Hayley said.

“Toastique believes in the power of responsibly sourced, healthy, and delicious food to fuel your best life and nourish every moment, and our menu reflects that philosophy.”

Toastique’s flagship location is in Washington, D.C., and it’s rapidly growing, with nearly 70 cafes nationwide.

The Rapid City store will be located on the first floor of the Block 5 development, a 10-story project that includes a new Hyatt Place hotel and loft apartments.

“We loved the idea of putting our store location in the heart of our community, where locals and Block 5 residents can stop in during the day and tourists can walk in while strolling through our downtown,” Hayley said.

“Block 5 was a perfect fit with its modern design and location. We’re honored to be joining this dynamic community and can’t wait to welcome you to our new home and bring a fresh and vibrant dining experience to Block 5.”
Toastique is “going to be a perfect complement for Block 5, and a really nice option for guests staying at the hotel, residents at the apartments and anyone visiting the area,” said Raquel Blount, vice president of commercial real estate for Lloyd Companies.

There’s about 6,000 square feet of retail space left to lease, she said.

“We’ve had interest from boutiques, salon-spas, giftware business, so a nice range of retail and we anticipate more announcements,” Blount said. “It’s a new and cool space for downtown Rapid City with a great vibe located in a very visible location.”

Follow the progress of Block 5 here.