Foundation Park continues to grow, not only with new tenants but with more developable acres of land. The Sioux Falls Development Foundation recently executed agreements and will be closing on 70 acres that will expand the industrial park boundary to the north. Any time you can acquire additional land that is contiguous to an existing park development it becomes very cost effective. These 70 acres will utilize the infrastructure that is being extended in the next 12-18 months to service all of Foundation Park north of the railroad tracks. This will bring the total overall developable land in Foundation Park to 926 acres.
The Sioux Falls Development Foundation also closed on 135 acres east of I-29 in October. This land, directly east of Foundation Park, became available in early 2022. It made sense for the Foundation to acquire the land as inventory for future development. The most important aspect of this land is that is resides in the same sewer basin as Foundation Park and will be served by the existing lift station installed for Foundation Park. The Development Foundation plans to work through the annexation process with the City and begin master planning. It’s realistic to see development in this area in the next 3-5 years.