Case Study: The Residence at Greenway

When: July 2020
Where: Sioux Falls, SD
Value: 42 rooms | 13,380 SF
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The Story

Lloyd Companies served as the developer and general contractor for The Residence at Greenway, which provides housing for income-qualified individuals age 62 and older and residents with disabilities.

Project size and scope

The project included demolition of a 1970s-era apartment building and replaced it with a three-story wood-framed apartment building including 42 units and 13,379 square-feet. Each apartment is HERS-certified for exceptional energy efficiency. A large, 1,400 square-foot community room is furnished with couches, tables, a TV and pool table, and there’s an attached kitchen for residents to use. Outdoor amenities include a concrete patio that is accessible from the community room, a third-floor community deck and a six-foot-tall privacy fence that surrounds three sides of the building.

Timeline

Demolition began in late July 2019 and construction finished July 1, 2020 

Challenges

The weather was definitely an enemy at the beginning of the project, with several construction days lost to record rainfall. Project partners stepped up to get work back on track, allowing the project to be delivered on the completion date that had been established and on budget.

Client experience

“We have heard great feedback from the residents on the apartment’s amenities and quality of the furnishings. Units became available July 1, 2020, and a month later we were at 64 percent occupied and leased, so the lease-up went well and we received good traffic right away. Residents are attracted to the great location, proximity to local restaurants and businesses and anticipate enjoying the community room for activities and gatherings.”

Brent Hamilton, Regional Property Manager