June 01, 2016
The retail boom at 85th Street and Minnesota Avenue likely will move west, and a new project being planned hopes to take advantage of the momentum.
Retail is proposed as a component of the Three Fountains complex, which includes recently built apartments and an office building under construction.
“We’ve had some interest. We haven’t signed anything yet, but we’re talking to people,” said Joel Dykstra, CEO of development company RMB Associates.
“Now with Walmart opening and stuff starting to happen along 85th, we certainly feel like it’s going to bring stuff our direction.”
A corner building designed with outdoor seating is envisioned as a restaurant. A second building is more flexible and could include retail, neighborhood services or office space.
“The centerpiece retail building … is really geared toward a restaurant, an eatery, if that’s national or local either way we’d be happy, along with a couple of other complementary retailers,” said Gregg Brown, senior vice president of NAI Sioux Falls, which has the space listed.
“We want it to be that neighborhood place, the center point for Three Fountains, a place for the office workers to go and those within the apartments, so that will be a primary focus to land that group.”
Other retail such as a dry cleaner or hair salon would offer easy access for apartment tenants and others in the neighborhood, he said.
“This is a higher-class finish, clearly trying to attract different tenants that don’t want to be right in front of Walmart,” Brown said.
Construction would start next year at the soonest, Dykstra said.
“We’re waiting for this to be demand-driven.”
Courtesy of Jodi Schwan, Sioux Falls Business Journal