https://www.youtube.com/watch?v=HWqs7hbS8Do
FF: 4:56 (Ironically the Planning office says they are working with them so they don’t disrupt the neighborhood. Huh?)
Avera has new zoning notices up at 24th and Cliff AND also at 7th/8th and 24th.
These are pink signs vs. the orange ones that were originally posted for the Feb Planning Commission meeting. The NEW pink signs are posted at both locations.
Seems like a sneaky strategy to have zoning requests at 2 different planning commission meetings with 24th and Cliff now added in. Why wasn’t this done all at once? Hmmmm.
They own approximately 49 out of the 64 homes in the neighborhood. It seems they plan to have 8th, 9th and 10th Avenues vacated at some point in the future! Do you really believe they will be able to move ALL of those houses? Not likely.
This cutting up our core neighborhoods like pie has got to end.
In Benders Market Outlook it was mentioned there was a at 9.8% vacancy rate with apartments in Sioux Falls and;
Overall, the multifamily real estate cycle is expected to remain in the recessionary stage.
I have often argued that many developers in Sioux Falls don’t have a long term plan with their properties, I maintain they are only looking on how they can make money TODAY without worrying about the future. I think by cutting up these core neighborhoods with affordable first time homebuyer houses they are forcing more younger families and seniors on a fixed income into rentals. I have even heard a planning official say that living in an apartment is appealing because it is a maintenance free lifestyle. What they don’t mention is when you move out of that apartment, you get $0 back for investing in someone else’s property. As a city we should be promoting home ownership over renting at all costs and we need to put the brakes on bulldozing our affordable neighborhoods, we also need to end TIFs for apartments and invest that money in saving our core neighborhoods.