SIOUX FALLS, SD (KELO-AM) Sioux Falls City officials today announced a record-breaking year of construction values, and with more than two months left in 2013, development numbers in Sioux Falls will continue to climb.
The construction valuation for building permits issued by Building Services in 2013 recently reached nearly $524.3 million. The previous record was $523.1 million, set back in 2007, and values through the end of October last year were $382.6 million.
“The people and the business community of Sioux Falls are incredibly confident in our great city,” says Mayor Mike Huether. “Record construction, job creation, rebuilding infrastructure and so much more show how public and private investments are creating an economic powerhouse right now.”
Projects such as the Scheels addition and remodel, Glanbia Nutritionals’ new building, the northside Walmart, updates at the Empire Mall and Costco’s new store are investing millions in Sioux Falls. While the new Denny Sanford PREMIER Center also is on the list of high-value construction projects, its $32.2 million permitted value this year is a small portion of the overall nearly $524.3 million figure.
“While this year’s highest-value projects are large commercial buildings, development of new multiple-family dwelling units also is booming,” says Mike Cooper, Director of Planning and Building Services. “Already this year 928 multiple-family dwelling units have been permitted, compared to 485 in all of 2012.”