City Enters Into Agreements With Developer for Railyard Land
Published on June 05, 2024
The City of Sioux Falls has announced its intent to enter into agreements with Christensen Development to develop about four acres of railyard land downtown that was purchased from BNSF Railway in 2015. The Railyard Development is estimated to cost about $95 million and will include a five-story mixed-use building on Eighth Street and three apartment buildings to the south. The mixed-use building is planned to be 56,000 square feet for retail and office space, including a rooftop that connects to the office space. A parking ramp with 180 stalls will also be built to support the building. Over 230 units will be added when the apartment buildings are complete.
“We look forward to having Christensen Development join our community. We hope the Railyard Development brings new designs and tenants our market has not seen before,” said Jeff Eckhoff, Director of Planning and Development Services. “This area of downtown is seeing historic investments, which wouldn’t be possible without the commitment of the City of Sioux Falls working with BNSF Railway and the federal efforts made by the local congressional delegation at the time to assist in the purchase of about ten acres of railyard property. It’s incredible to see the transformation of this area of downtown, and we know the Railyard Development will complement what is already in progress.”
Christensen Development is headquartered in Des Moines, IA, where the company has already invested in more than 30 buildings, over a dozen just in the East Village. Some notable projects include a vacant building on East Third Street redeveloped into a mixed-use building with Iowa Taproom as a tenant and a historic renovation of a vacant building on East Second Street to 24,000 square feet of Class A office space.
“When we were first introduced to Sioux Falls, it felt like home. The railyard land is a unique opportunity that we are excited to be a part of. The vibrant energy already surrounding the future Railyard Development is something we feel we can build upon,” said Jake Christensen, President of Christensen Development. “We look forward to working with the City of Sioux Falls and City Councilors to move this project forward.”
The purchase and development agreements for the Railyard Development will go before City Council in late July and early August. Pending approval, Christensen Development will break ground on the mixed-use building before the end of 2024, with a planned completion in early 2026.
