Mari Coome and her roommate Kristen Brink signed a lease for a two bedroom apartment at The Villas Nike Sneaker
In the first four months of the year, 600 new apartments went up in Sioux Falls totaling $55 million in construction. Many of those new units are in a $26 million complex near Costco.
rent is rising, just because the demand is there right now but we also trying to stay competitive because you want to fill that new project," Jill Madsen of Bender Midwest Properties said.
West 26th street. Emerald Valley will have 120 apartments.
The first phase of the complex will be complete in three months.
Even more projects are on the way. Dunham has two more complexes planned Sunset Villas at 69th and Southeastern will have 132 units. Dunham will also be building on the other side of town on Nike Shoes Gold And Black
SIOUX FALLS, SD Take a drive around Sioux Falls and you see apartment buildings going up all over town. This summer, you can expect ground to be broken on even more complexes.
"I think what would surprise people is they see a lot of apartments going up, but yet with the permits taken out, we will not have enough to serve the demand that is out there," Dunham said.
"I think the price of Nike Shoes Black And Green
Developers say they meeting pent up demand, in what shaping up to be a record year for apartment building.
There are already 13 people on the waiting list. Developer Jim Dunham says while apartment building came to a stop in the recession, people continued to move town.
Apartment Companies Can't Keep Up With Demand
today. They happy with all the amenities, but rental rates have risen about five percent in the last two years.
"We get calls on this for leasing apartments every day right now," Dunham said.
Proof of that is the Nike Shoes White And Yellow newly constructed, The Villas at Canyon Creek. The last two of ten buildings are nearing completion with a 95 percent occupancy rate.
"I feel like we really lucked out. We came in, did the tour, filled out the application, got in right away. I think they had three left when we signed it," Coome said.
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