Council sets deadline for Rapid City project - KSFY News - Sioux Falls, SD News, Weather, Sports

Council sets deadline for Rapid City project

Posted: Updated:

Rapid City Council members have set deadlines for a proposed $50 million downtown development but say they still support the project that was first proposed seven years ago.
The President's Plaza project is to include a mix of retail shops, a hotel, a convention center, condominiums and a 500-stall parking garage. Hani Shafai with developer Dream Design International says more time is needed to secure financing.
The deadlines include having President's Plaza entered into a contract by the end of 2015, with construction starting within the first six months of 2016. If the $50 million design isn't achievable, the developers are required to either move forward with a scaled-down design or abandon the project by Jan. 31, 2015. If the deadlines aren't met, the project could lose city aid.

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and KSFY. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service or our EEO Report.