SIOUX CITY -- Developers have completed the over $11 million Summit Ridge Apartments project.
Construction on the 73-unit apartment complex, perched on a hill overlooking Sioux City's Sunnybrook commercial area, began in the spring of 2019.
The developers, Dallas, Texas-based Anthony Properties and Lincoln, Nebraska-based Perry Reid Properties, had previously built the Summit at Sunnybrook Village, a 225-unit complex adjacent to the new Summit Ridge development. Those apartments opened three years ago. Summit Ridge is "phase II" of the development.
Demand for apartments built in phase I (the Summit at Sunnybrook) was reportedly strong.
"When we built Phase I, we expected to see high demand for a new multi-family development featuring the finest amenities in the market. In fact, our expectations were exceeded," Perry Reed spokesman Craig Reed said in a statement.
Tenants began moving into the Summit Ridge Apartments in November, when the developers obtained a temporary certificate of occupancy. An official certificate of occupancy was granted in December. To date, roughly 14 leases have been signed.
The developers have variously described the new apartments as "luxury" and "upscale" housing, and said the apartments provide "a standard of living they won't find elsewhere in the city."
The new complex boasts numerous amenities -- washer and dryer units inside the apartments, an underground parking garage, elevators, a 24-hour fitness facility, an outdoor patio overlooking Sunnybrook, community areas featuring a Wi-Fi lounge, coffee bar, pool table and fireplaces, and "valet trash and recycling" for residents.
"Just to kind of cater to, maybe that older crowd that's willing to pay a little bit more for, you know, nicer finishes, newer finishes," said Justin Todd, assistant vice president of development with Anthony Properties.
Rents on the units range from roughly $940 a month for a studio to as much as $1,500 or so for larger units, some of which have more than one bathroom. Units range in size from 553 to 1,423 square feet.
In the years before their Sunnybrook venture, Anthony Properties was primarily in the movie theater renovation and construction business -- some years ago they renovated the Carmike (now AMC) theater at the Southern Hills Mall. At one point, the developers had set their eyes on Sunnybrook as a possible site for a new movie theater before deciding to go in a different direction.
"Carmike didn't want to build there (in Sunnybrook), but we still believed in that area, and we kind of started branching out to different uses, and it's all kind of come together pretty well," Todd said.
"Sioux City was actually one of the first projects, big projects, where we didn't build a theater," he added.