Sioux Falls developer gets approval in Pierre for 100-unit development
Company specializes in workforce housing projects in mid-sized communities
A Sioux Falls developer has won the right to build a $16.6 million multifamily development in Pierre after the Pierre City Commission approved the deal Tuesday.
The commission gave its stamp of approval to a memorandum of understanding with Stencil Group. Nate Stencil, the company’s CEO, said the plan calls for a 100-plus unit apartment building southwest of the Pierre City Hall off of Abbey Road.
Stencil handles the development, construction and management of its projects under one company, which it says allows its projects to be less expensive for lower income families.
“We know affordable workforce housing is becoming a flashpoint issue across the Midwest, so we decided to solve the problem by collecting all three companies – development, construction and management – under one roof,” the company’s website says.
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