Case Study: Cornerstone Bank

When: 2018
Where: Sioux Falls SD
Value: $4.5 Million
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The Story

Careful planning, communication allow bank to open flagship location on schedule

When Cornerstone Bank selected land for its new flagship Sioux Falls location, it guaranteed thousands of eyes would be on the project every day from the ground up.

Located at 69th Street and Louise Avenue, the bank sits on a highly visible corner in a growing part of town.

But likely no passer-by watched the building as closely as market president Evan Ingebrigtson, who knew his lease was up at the end of 2018 – and that his building couldn’t get started until a big April blizzard passed.

But he felt confident it would all come together, he said, because Lloyd Companies had been chosen as the project’s general contractor.

“It was important to us to do business locally, and we selected about five or six companies in town to interview as a committee,” Ingebrigtson said. “We based it on their ability to get it in their work schedule, get it in on time and obviously on price.”

Lloyd construction manager Josh Roozeboom took it from there.

The project was a two-story, 18,000-square-foot building with a partial basement. It’s primarily a steel structure with steel stud construction and includes many items with long lead time.

“With the exterior finishes, we had to plan ahead quite a bit to make the schedule work,” he said. “We had a composite metal panel siding system and precast concrete panels and a lot of storefront glass that needed a lot of time in between field measuring, production and installation.”

The energy-efficient building also includes many different components including in-floor heat and controls on everything from lighting to hydronics and the HVAC system.

“We had to lock in our subcontractors as early as possible to get all the submittals going in as timely as possible to meet our schedule, but at the end of the day we made it happen,” Roozeboom said.

And that blizzard? It held up breaking ground until mid-April. And after that, a record rain season delayed work up some more.

“We just adjusted as necessary,” Roozeboom said. “Our end date never moved, and we figured out ways to make up for it. We did a lot of proactive agreements with subcontractors to work overtime, and we had some really good subcontractors who helped us out working weekends. Then we just had to condense and overlap scopes of work as necessary to not let that end date move out.”

Throughout the work, Ingebrigtson said he was kept well informed.

“We met on site or via a call every two weeks, and I got a weekly update from the site superintendent,” he said. “Josh did a great job. Sometimes construction is like herding chickens. I came in one day and there were 100 people in the building as we were about to move in. And he was calm, cool and collected.”

The building was turned over to Cornerstone Dec. 14, on schedule and on budget.

“As far as cost, we came in where we wanted to or under,” Roozeboom said. “We had a good working project budget and were able to shift and deduct some things that weren’t necessary and make up for some unexpected things and we came in where we needed. It’s something I think we can be proud of, that we could manage the schedule – not just me but everyone in our office who had a hand in the project – and I think it will be a good addition to a growing part of town. I’m just happy I was a part of it.”

Cornerstone is happy too, Ingebrigtson said.

“It turned out very well and absolutely met our expectations. When you push the envelope as hard and fast as we did, there are always going to be little things, but any issues we’ve had they’ve been all over it as far as getting it fixed,” he said.

“Overall, the quality is good and we had no real issues. And the building is very conducive to banking. Our team is liking it a lot.”