- Associated Press - Thursday, April 9, 2015

SIOUX FALLS, S.D. (AP) - An estimated $25 million retail and office project is planned for downtown Sioux Falls.

Developers tell The Argus Leader (http://argusne.ws/1NWSLiu ) the proposed mixed-use building would be located at the corner of 8th Street and Minnesota Avenue. The 50,000-square foot building would house retail on the street level and offices on the four stories above.

Developer Dale Jans says he and his team are exploring the possibility of some residential units on the top floors.

The land has been vacant since 2008, when the historic three-story Van Eps house was moved to a farm in Missouri.

The proposal comes as the downtown office vacancy rate in Sioux Falls has inched up.

A study by Bender Commercial Real Estate Services put it at 12 percent, up from about 8 percent last year.

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Information from: Argus Leader, http://www.argusleader.com

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