Lloyd Companies Plans Affordable Housing Communities Statewide
From one end of South Dakota to the other, the need for affordable housing is crucial and Lloyd Companies is prepared to meet it. We’re in development with four projects from Sioux Falls to Rapid City and partnering with community organizations to bring needed homes and services.
“When we look at any area we’re developing, we want to make sure we’re providing a range of services for everyone,” Finance Director Mark Quasney said. “A big part of affordable housing is making sure we’re developing economically diverse areas across communities, so we’re not building housing for those of certain incomes in certain parts of a community.”
Pending approval of tax credit financing from the South Dakota Housing Development Authority, Lloyd is planning to build the following multifamily housing communities.
Glory House Apartments
Glory House Apartments is a partnership with Glory House in Sioux Falls, which is intended to provide housing to the clientele served by Glory House. That includes individuals with addiction, mental health problems and poor life skills as well individuals with criminal histories which make finding stable and safe housing difficult.
This would be the second phase of the apartment project that Lloyd completed for Glory House in 2019.
Glory House II is proposed to be a 51 unit, 4-story building with office and service-providing space on the ground floor and three floors of apartments. It is connected to the existing building and will provide a mix of studio, 1 and 2-bedroom apartments.
“Tenants have access to individual and group counseling and other Glory House services in close proximity and the facility is monitored to maintain a clean, safe, sober environment for everyone,” Quasney said.
The Grove at Ellis Crossing
This proposed community will bring affordable housing to 41st Street and Ellis Road near The Silos at Ellis Crossing, Lloyd’s new market-rate apartment and townhome community. The Grove would be a 35 unit, 3-story apartment building with a mix of 1, 2 and 3-bedroom apartments.
“The Grove is intended to offer housing to families with children who are at or below 60 percent of the area median income,” Quasney said. “This is an example of integrating affordable housing into our newly developing areas of the community, offering these residents the same access to schools, retail and services as their counterparts at other income levels.
The Grove is a partnership with Empower and residents will have access to the programs and ministries offered by the nonprofit.
Heartland Heights
Heartland Heights II will add a 41 unit, 3-story apartment building on the east side of Rapid City near an elementary and middle school. It will be a mirror project of the first phase of the community Heartland Heights, which Lloyd began construction on earlier this year.
“We’re under construction now and we’ve generated a lot of interest in the community,” Quasney said. “There’s a huge need in Rapid City. There is statewide, but it’s especially prevalent in Rapid City so we’re hoping we can get this second phase going to meet that need.”
Heartland Heights includes an on-site playground and community room. It is a partnership with the nonprofit Club for Boys, which will support services for residents including after-school programs and busing.
“We’re making good progress on construction of the first phase, and on track for an early spring move-in,” Quasney said. “And if we’re approved for the second phase, we’ll roll directly into that.”
Jefferson Village
The proposed Jefferson Village II is a 29 unit, 3-story apartment building with a mix of 1, 2 and 3-bedroom apartments in northwest Sioux Falls at the intersection of Career and Innovation avenue.
“We were awarded the first phase of this community last year which is currently under construction. This project would be a mirror of the first phase and finish developing a vacant lot at that intersection,” Quasney said.
“Northwest Sioux Falls is experiencing significant growth in employment and educational facilities, and the need for more affordable housing is significant.”
Jefferson Village II is a partnership with the YMCA and tenants are eligible to participate in the many programs offered by the YMCA in the Sioux Falls area.
What’s next
All of the affordable housing projects that receive approval will start construction in the spring and take about a year until they’re ready for residents.
“We expect to hear which projects have been approved soon,” Quasney said. “Given the ongoing demand for this housing and services statewide, we’re hopeful we can begin to address it as quickly as possible.”
Learn more about Lloyd’s current affordable housing communities here!
