City Hall: Next phase of Sioux Falls railyard redevelopment hinges on $8M tax incentive
Iowa developer's TIF request tied to $95M build-out of downtown land acquired by city of Sioux Falls more than a decade ago
A $95 million plan for hundreds of new apartments, commercial space and a restaurant in downtown Sioux Falls has been in the works for more than five years.
Now, to advance the next phase of construction at the former BNSF railyard — land the city took ownership of more than a decade ago — Sioux Falls officials are being asked to approve an $8 million tax incentive for the Iowa-based developer behind the proposed mixed-use project.
“This would be a proper fit within our downtown planned development,” city urban planner Dustin Powers said Tuesday as part of City Hall’s proposal to move ahead with the next phase of its long-envisioned railyard redevelopment. “This is mixed use. It meets all the criteria that we’re looking for in our downtown zoning district.”
