Four Ways Lloyd Companies Is Building For The Future Across Downtown Developments
From east to west, across two states, Lloyd Companies is all in when it comes to transforming communities’ downtowns.
With projects in development and underway from Des Moines to Sioux Falls and Rapid City, we’re excited to share four progress reports with you.
The skyline of downtown Rapid City is starting to transform with Block 5, a 10-story mixed used development anchored by a 117-room Hyatt Place hotel.
“It’s going really well,” said Luke Jessen vice president of development for Lloyd.
“We wrapped up precast work around the first of the year, so the entire parking ramp is set to go and the entire section of the hotel is done, so that’s been an exciting milestone as far as the structure goes. Plus we have a model hotel room under construction that should be done this month, which will help us finalize design decisions and give a great sense of what’s to come.”
Lloyd Construction started setting light gauge steel recently on floors six through 10, which will include 132 studio, one and two-bedroom apartments.
“We’ve already got a list of interested residents, even though we will likely wait until the beginning of next year to start pre-leasing for a spring opening,” Jessen said.
The project also includes 7,000 square feet of retail space in addition to the hotel lobby and 5,000 square feet of meeting space.
“We’ve had a lot of interest in the retail space and anticipate announcements soon,” Jessen said.
In Sioux Falls, the One2 is well underway, on pace to bring 175 new apartments to the south end of downtown along 12th Street between First and Second Avenues.
“I’m so impressed with this project,” Jessen said. “The views are incredible. From the top floor you can see the Cathedral, you can see all of downtown. I think residents will be ecstatic about that.”
The top floor is being framed and topped out soon.
“The apartment layouts are turning out really well,” Jessen said. “We’ll have studio through three-bedroom apartments
The building’s amenities will include a fitness center, expansive courtyard and dog run.
“It’s elevated in the middle, so there will be a fun pergola area and a couple unique gathering space on the first floor,” Jessen said.
“There’s also a big community room at the corner of First and 12th overlooking the 12th Street pedestrian plaza, plus a top floor lounge with a big patio, along with little alcoves throughout the common areas that are good for working from home.”
The first floor has about 3,000 square feet available for retail use.
“We’re starting to get some inquiries on that space,” Jessen said. “We envision food and beverage there, although we’d entertain other options. But it’s a great option for food and beverage with the location right off the 12th Street Plaza.”
The One2 is scheduled to open in early 2025 and will start pre-leasing later this year.
Construction at Lloyd’s signature development The Steel District in downtown Sioux Falls is moving ahead according to plan.
“Construction is going well,” Jessen said. “We get weekly updates, and it’s coming along nicely.”
The office tower is more than 80 percent leased and a new second-floor coffee shop, Brioux Falls, is on track to open this spring. Construction also has started on the three first-floor restaurants: Big Sioux Burger, Bandera Tequila Bar and Ironwood, which will open later this year.
Attached to that building, the parking ramp is operational, and its wrap-around building with condos, apartments and retail is making strong progress.
Four condos have sold, as “interest has really picked up this spring and we have a number of key units sold, with tons of tours taking place,” Jessen said. “The space is really coming together, so you can actually stand in the condos and get a glimpse of the view and begin to envision your layout. We anticipate the first buildouts starting shortly.”
The District Lofts are pre-leasing for a July opening, and retailers will begin opening this summer.
The Deco
Lloyd is excited to begin work on a new project in downtown Des Moines – The Deco, developed in partnership with Sioux Falls-based developer Byron Schaefersman.
Foundation work has started on this five-story building on the corner of 13th Street and Mulberry Street, to the south of the Pappajohn Sculpture Park and a block from the former Nationwide campus, which is becoming a new City Hall.
“This is a brand-new, ground-up development on a former surface parking lot,” Jessen said. “We really like the location and are excited to get started.”
The building will offer a mix of studio, one and two-bedroom apartments, with an elevated community deck area.
The plan is to open for residents in 2025.
