SIOUX CITY, Iowa (AP) - An abandoned industrial section of downtown Sioux City is getting a $25 million makeover that developers hope will turn the neighborhood into a bustling urban residential area.
The project is led by Ho-Chunk Inc., which is the Winnebago Tribe of Nebraska’s economic development corporation. Over the past two years, Ho-Chunk has bought and started refurbishing two abandoned buildings.
The Sioux City Journal reports (https://bit.ly/2hy2lT9 ) Ho-Chunk recently bought a third building to expand the project. Developers say the goal is to create the entertainment and residential district out of the former industrial buildings.
“We’ve taken what was dilapidated buildings and eyesores and have turned them into something cool, modern and cutting-edge, which hopefully will help Sioux City attract additional employers to the region,” said Dennis Johnson, chief information officer for Ho-Chunk Inc.
The first building in the Virginia Square project to be completed will feature a restaurant on the first floor and apartments on the upper two floors. The 20 apartments have a modern style and come with stainless steel appliances.
The apartments will rent for $975 for a one bedroom or $1,100 for a two-bedroom unit.
“We are just starting to move people in here, so I think over the next four to six months these 20 apartment units should be fully leased and about the same timeline the restaurant will be built out as well too,” Johnson said.
Ho-Chunk has renovations to a five-story building that used to be used for cold storage about 60 percent completed. That building will hold a mix of office space, apartments and retail space.
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Information from: Sioux City Journal, https://www.siouxcityjournal.com
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