Lloyd Companies To Break Ground On New Apartment Development In Rapid City

Lloyd Companies will start work this spring on a new apartment community bringing new apartment styles to Rapid City.

Buffalo Run will be located on the city’s northern edge in the Shepherd Hills development.

“We’re excited to get started on this community, as most of our projects so far in Rapid City have been on the southern side of the city,” said Luke Jessen, vice president of development at Lloyd.

“This is a growing neighborhood with a lot of positive momentum, and we think Buffalo Run will fit in very well here.”

The 172-unit project is expected to start construction this spring and begin opening in early 2025.

Buffalo Run will offer a mix of traditional center-load and flat-style apartments, with a variety of one, two and three-bedroom floor plans.

“This is the first time we’re introducing our flat-style apartments in Rapid City, so we look forward to offering it and expect a strong response,” Jessen said.

Buffalo Run residents will enjoy a clubhouse with a community room and fitness center in addition to an outdoor pool.

The new community addresses continued demand for multi-family housing in Rapid City, Jessen said.

“We’ve seen projects here lease up really quickly,” he said. “At the same time, we’re aware there’s a lot of multifamily development happening in the market, so we’re being mindful of delivering projects at the right time in a responsible way. However, it’s been our experience that housing in this community absorbs very well.”

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