SIOUX FALLS, S.D. — Projections show the number of apartment-dwelling households in the Sioux Falls area will increase at a greater rate than the rest of the United States.
High demand for workers continues to draw more people to move to the city, the Argus Leader reported. Recent U.S. Census Bureau data said nearly one-third of Sioux Falls residents are now renters.
Some neighborhoods have combined forces to try to halt progress on plans for larger-scale apartment buildings. The Oakview Neighborhood Association recently attempted unsuccessfully to prevent a rezone of a nearby urban farmstead.
Neighbors of Lacy Estate asked City Council to understand their concerns about the effects a large-scale apartment building would have on traffic and density. But council members still voted for the building.
“Because of the way that we’re growing, how quickly we’re growing, we have a need for multifamily housing,” said Greg Neitzert, a councilman.
Permits filed with City Hall every year show significant increases in multifamily housing construction. City Planner Mike Cooper predicts the trend will slow for 2017, but his staff still expects serious long-term growth.
“Our employment growth, which drives population growth, which is what drives demand for housing,” he said.
The trend is nationwide as younger families prefer the mobility and financial freedom of renting. The U.S. is expected to see large increases in the number of renters in the next couple of decades, according to a report from the National Multifamily Housing Council and the National Apartment Association.
But the increase in Sioux Falls renters is expected to be even more significant than the rest of the U.S. Cooper said the city could see a 60 percent increase in the number of apartments by 2040.
“Sioux Falls is not unique,” he said. “Municipalities throughout the country are always dealing with land-use debates about higher density development.”
Information from: Argus Leader, http://www.argusleader.com