Lloyd Cos. planning $6.1M affordable housing apartments for eastern Sioux Falls

Patrick Anderson
Argus Leader
A rendering of the Residences at Greenway project development from Lloyd Cos.

A three-story apartment building planned for eastern Sioux Falls will add to the city’s limited pool of affordable housing.

Developers with Lloyd Cos. are planning to demolish and rebuild apartments at 3008 East 26th St., doubling the total number of units and adding housing for people living on low-income wages.

Work on the $6.1 million Residences at Greenway is slated to start this summer, with plans to finish the project in the summer of 2020.

Lloyd is partnering with nonprofit Affordable Housing Solutions on the project, said Mike Crane, development director for affordable housing.

“There is a need for housing at a variety of income levels,” Crane said. “And our objective with is to put together a program with our partner that will help address a need.”

The Residences at Greenway will include 42 one- and two-bedroom units in a format designed to meet the needs of low-income families in Sioux Falls, Crane said. The new building will have reduced-rent apartments at rates affordable for those making as low as 30 percent of median income.

Lloyd is working with current tenants to find them another place to live before demolition begins in July. Current tenants also have the option of returning when the project is finished, Crane said.

“It’s designed to provide a quality living environment,” Crane said.