Building Permit Construction Valuation Reaches $700+ Million for the First Time in History
Construction activity continues to break records in Sioux Falls for the fourth year in a row. The construction valuation for building permits issued by Building Services in 2016 reached $701,851,489 for the year, the first time in history the $700 million mark has been reached. In 2015, the record was $676.3 million, and the previous record set in 2014 was $619.5 million. The total in 2013 was $588.2 million.
“Four consecutive years of record-breaking construction valuations is new territory for Sioux Falls, and hitting $700 million in largely private investment in our city is an amazing testament to the continued optimism people have,” says Mike Cooper, Director of Planning and Building Services.
This year’s record was driven in part by a record number of dwelling units. In 2016, a total of 2,647 dwelling units were permitted in Sioux Falls. The previous record was 2,056 dwelling units, set in 2014.
Some big projects are already in the process for permitting this year. In 2017, permits will be issued for:
- Gage Brother’s new headquarters, valued at $19.3 million
- The City Administration Building, valued at $18.4 million
- Holiday Inn Hotel & Suites and Crooked Pint Ale House restaurant on Elmwood Golf Course, valued at $9 million
- Commons Apartment/Community Center, valued at $6.2 million
- Sanford Foundation office building, valued at $6 million
- George Boom Funeral Home, valued at $4 million
- West Lake Office, valued at $1.8 million
- Kum & Go, valued at $1.6 million
- C-Lemme Office, valued at $1.2 million
- The finishes for the mixed-use Washington Square project
- The finishes for the retail suites at The Shoppes at Lake Lorraine
For all of the building permit statistics for 2016, visit www.siouxfalls.org/permit-stats.