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Plans for Cherapa Place expand as one new building nearly fills

“This is a whole complex and not a series of individual buildings.”
Expansion plans for the complex known as Cherapa Place have grown to include a 10-story...
Expansion plans for the complex known as Cherapa Place have grown to include a 10-story building instead of nine floors and more retail space.(SiouxFalls.Business)
Published: Sep. 27, 2021 at 12:17 PM CDT
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SIOUX FALLS, S.D. (SiouxFalls.Business) - Expansion plans for the complex known as Cherapa Place have grown to include a 10-story building instead of nine floors and more retail space.

The design allows for someone to park underground and access any one of the four buildings without going outdoors. There will be tunnels underneath the site between buildings and a 5,000-square-foot above-ground connection between the original building and its new neighboring one that will double as event and gathering space.

“This is a whole complex and not a series of individual buildings,” Haber said. “Cherapa Place is no longer just a building or building two or three or four. It is truly a campus, and I think all those structures will interplay with each other for a true live-work-play environment.”

“This is a whole complex and not a series of individual buildings,” Haber said.
“This is a whole complex and not a series of individual buildings,” Haber said.(SiouxFalls.Business)

The Bancorp building, which is connected to the original Cherapa, was proposed as nine stories but has grown to 10 based on demand for office space and condominiums.

The newest tenant to commit is Eide Bailly LLP, which will move into floors four and five.

Other tenants in the building include The Bancorp, which is taking floors seven, eight and half of six; MarketBeat, which is taking the rest of six; and ISG, which will be on the third floor.

That leaves only the second floor remaining for lease, with some deals in progress. The design calls for a dozen condos, though that could adjust.

“We changed the scope of design to include those amenities like more private courtyards,” she said. “I think you’ll find the quality is going to be there and the aesthetics are going to be there, and we’re going to have a range of sizes to allow people to manage their budgets.”

“We changed the scope of design to include those amenities like more private courtyards,” Haber...
“We changed the scope of design to include those amenities like more private courtyards,” Haber said.(Dakota News Now)

Office tenants and condo owners are scheduled to begin moving in later in 2023, with the apartment mixed-use buildings following after that.

In the meantime, other key milestones are being reached. Pendar Properties closed on the land recently, and the city signed off on its development agreement. A groundbreaking is scheduled for 4:30 p.m. Oct. 25.

Read more from the developers in the full story at siouxfalls.business.

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