Real estate companies excited for new district development
It's a new plan just unveiled by the city of Sioux Falls, Tuesday. Wednesday, one local real estate company is already looking forward to being part of it. As we first reported yesterday, the city will be re-naming part of the NW side of Sioux Falls the Sports and Entertainment District.
It is several square miles of land surrounding the new Denny Sanford Premier Center that includes other properties like the Elmwood Golf Course, the Regional Airport and the Sanford Sports Complex.
The city is forecasting an increase of more than 7,000 new housing units and a population increase of 16,000 by 2025.
For a company like Hegg Companies that has been around nearly 60 years, it screams new a good opportunities.
The Northwest side is partially filled with homes, a few businesses and a whole lot of land. Hegg Companies' Steve Westra says this means job creation, expanding tax base and good development the city needs.
"As one area, sector continues to build, you'll see that across the board and everyone will benefit greatly from it," Hegg Companies Official Steve Westra said.
Westra says he's well aware of the city's master plan around the new event center, and for his company, it's all excitement.
"People are attracted to areas where there are opportunities. When you see that what Sanford is doing, people want to live where the action is. I think we'll continue to see new construction and new people will move closer to that," Westra said.
While Westra admits, it's hard to predict a change in property value or what exactly could be built, he knows the city is going in the right direction.
"When you have people making this type of investment in the city, we all benefit," Westra said.
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