New apartments filled with extras provide increased options for renters

Apartment-seekers will find more options this summer than they have in years.

Multiple years of record apartment building in the Sioux Falls area have culminated in a surge of buildings opening for renters, including many offering big amenity packages.

“There are a lot of new properties coming online, which is great for renters as it means they have more options,” said Ashley Lipp, vice president of residential property management for Lloyd Cos., which rents apartments under the 334-RENT brand.

“Our new projects are really popular. People like the idea of moving into a brand-new home with updated amenities.”

And they are seemingly everywhere, from northwest to southeast Sioux Falls, downtown and in Harrisburg.

“I always said I wanted our product to be representative of the quality of the brand — somewhere between Target and Tiffany,” said Kevin Tupy, founder and CEO of Cresten Properties. “We are not really getting a higher rent for the upgrades and amenities we’re putting into it, but I feel over the long term, people will see the difference in quality we’re building.”

What does that look like?

“We’re putting in granite and quartz and upsizing the fridges and toilets and upgrading the hardware and putting more into sound deterrence to ensure it’s a higher-quality living experience. We’re investing in higher ceilings,” Tupy said.

Throughout the market, many of the newer properties are offering a lot of extras outside the apartments too.

The Blu will open later this year adjacent to Lake Lorraine, where residents will enjoy paddleboats and kayaks along with a rooftop sauna.

The MarQ in southwest Sioux Falls has multiple designated work-from-home spaces in its clubhouse.

The Boundary in northwest Sioux Falls has a two-story clubhouse and an outdoorsy vibe with a second-story deck overlooking the pool.

And PowderHaus Apartments on the east side will offer everything from an outdoor pool and splash pad to an arcade room and basketball and volleyball courts.

Plus, there’s more coming.

“We have a busy rest of the year ahead of us with new units coming online at several of our new projects,” Lipp said.

“We are still seeing a lot of newcomers to Sioux Falls. It’s hard to say exactly what’s bringing them here, but with all the new construction happening, we have noticed a lot of workers needing housing while they are here building projects.”

While the market isn’t quite as tight as last year, she still suggests renters start looking at least 60 days before they hope to move.

“And when they find something they like, they should apply right away to ensure it isn’t rented by someone else,” Lipp said. “We are still in prime leasing season with a lot of activity, so the quicker renters can make decisions, the more likely they are to find exactly what they’re looking for.”

Demand likely could continue as both Lloyd and Cresten report their projects are rented out in the mid-90 percents.

“We put a conservative estimate together, and the demand in our opening is going to continue to exceed supply,” Tupy said. “That’s just based on the number we put together on what we anticipate for new people coming into the market, the transition of people into apartments, and we still feel good.”

You can take a look at nearly 20 available apartment communities, including many brand-new ones, in our latest edition of Apartments on the Move: