SOUTH SIOUX CITY -- With a picturesque view of the Missouri River as a backdrop, visitors to one of the metro area's newest housing and business subdivisions should begin to get a better picture of what the area ultimately will look like as the year progresses.
The majority of South Sioux City's Flatwater Crossing development remains empty, with just a handful of completed homes and one of the buildings that will make up the village center. But with 200 acres to fill near the riverbanks near 29th Street and Veterans Drive on the city's southeast side, it's going to take some time.
The first four spec homes were built in 2018, with a few more added last year. With construction on another six to eight homes expected to begin this year, developers are pleased with the pace of development in the $75 million project that is expected to be completed in three phases during the next 20 years.
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"There's a clear direction we're moving toward. It's a little bit fluid and flexible based on demand," said Dennis Johnson, chief investment officer at Ho-Chunk Inc., a development corporation owned by the Winnebago Tribe of Nebraska and the project developer.
Developers continue to advance on phase one of the project, a 70-acre parcel containing 67 lots that will have town homes, single-family homes, commercial space and roughly 200 apartment units. It also includes development of a 67,000-square-foot village center, similar to a public square where pedestrians can visit shops.
The past year saw the completion of a three-story building, the first located in the village center. It includes commercial space on the ground floor and 14 single- and two-bedroom apartments on the upper floors leasing for $1,000-$1,100 per month.
Leasing began in February, and the first tenants should move in soon. Johnson said he expects the apartments to be filled in six months or less.
Designs are nearly complete for SweetWater Cafe, a coffee shop and deli under the Ho-Chunk Inc. umbrella, to be located on the ground floor of the new building. It's hoped the shop will open late summer or early fall. Johnson said SweetWater, which has locations in the Ho-Chunk Centre in downtown Sioux City and in Winnebago, Nebraska, will be a cool place to get a cup of coffee and enjoy a great view of the river.
"I think it's going to be a draw," he said.
Johnson said plans include breaking ground later this year on another village center building that will have retail, restaurant and commercial space, plus about 50 apartments.
The first building housing five town homes also should be completed this month, he said, and owners of the one presold unit will move in soon. The other four units, ranging in size from 1,500 to 2,000 square feet and priced in the mid to upper $300,000 range, will soon be listed for sale.
Developers plan to break ground later this summer on another town home unit nearly identical to the first one.
As of last fall, two single-family homes were occupied and two others were on the market. Johnson said up to eight more -- a mixture of spec, custom-built and presold homes -- will be built this year. House prices begin in the upper $200,000 range and up, Johnson said.
Johnson has touted the quality of homes at Flatwater, including premium finishes and materials including quartz countertops, custom kitchen cabinets, fireplaces, hardy siding and hardwood floors. Buyers can hire their own contractor or have their house built by BluStone Homes, Ho-Chunk's home-building company.
Work on other amenities within the development is scheduled to begin this summer. Johnson said more landscaping and tree planting will take place throughout the development. Other improvements include paving more sidewalks and adding seating areas near the river. It's hoped that a dock system on the river can be in place this summer.
Johnson said developers also have bought 2 acres of land from South Sioux City at 29th Street and Flatwater Drive and are working on plans for a clubhouse that would include a fitness facility, a community room and possibly a swimming pool.
"It's stuff that not every subdivision has got," Johnson said.
One thing the subdivision doesn't have, he said, is flood water. The land is not in the flood zone, Johnson said, and while the Missouri River ran high all spring, summer and fall in 2019, there was no water in the development area, and there have been no issues with ground water seeping into basements in the homes there.
"It's a good question and it's also our most common question," Johnson said.
Planning for Flatwater Crossing began in 2014 and is expected to have 600 apartments, 400 single-family homes, commercial and retail space and parks. The area is designed to have walkable neighborhoods with housing, dining and shopping in close proximity and public spaces.
