SIOUX FALLS, S.D. (KELO.com) -- The City of Sioux Falls on Monday, July 16, will announce the long-awaited first development agreement for the downtown rail yard property.
The city in 2015 consummated the purchase of the prime ten acres from BNSF Railway, a $27 million deal decades in the making. Just before he left office this year, then-Mayor Mike Huether said that the deal would change Sioux Falls in ways that "we can't even comprehend."
Mayor Paul TenHaken, City Planning Director Mike Cooper, and the chosen developer will participate in the news conference at the railyard property on the south side of 8th Street, at 10 a.m.
The big announcement will include artwork renderings of the site and drone footage.
Boosters say the project could result in $100 million in economic development for downtown.
The downtown dream really started turning into reality back in 2005, when U.S. Senators Tim Johnson and John Thune secured a commitment for federal money for land purchase and track removal.