PROGRESS: Flatwater Crossing begins to take shape

Now it's time to "go vertical," as Dennis Johnson puts it.

After four spec homes were built in 2018, construction is beginning to pick up at the $75 million residential project along the banks of the Missouri River in South Sioux City, and passersby will begin to notice homes and other buildings rising above the flat land that once grew corn and soybeans.

"This is where things start getting filled in and we see things going from concept and vision to apartments and homes," said Johnson, chief investment officer at Ho-Chunk Capital, the economic development and investment division of Ho-Chunk Inc., which is a development corporation owned by the Winnebago Tribe of Nebraska.

Currently under construction is the first five-unit town home complex, and work will begin on a second one later this year. A three-story mixed-use building that will consist of commercial space on the ground floor and 14 one- and two-bedroom apartments on the second and third floors is taking shape. Work on a larger apartment complex is to start this year.

It's the beginning of development of phase one, a 70-acre parcel of 67 lots that will have town homes, single-family homes and approximately 200 apartment units, in addition to commercial space.

Ultimately, the 200-acre development will include 600 apartments, 400 single-family homes, commercial and retail space and parks and community areas.

It's an ambitious project to add 1,000 new homes to the city over the next 20 or so years, but Johnson said studies show a growing need for housing in the area.

"Almost every city in this area has documented there's a shortage of quality housing," he said.

The difference with Flatwater Crossing is the current and future phases are designed with the new-urbanism concept, which focuses on walkable neighborhoods with housing and shopping in close proximity and public spaces.

"One of the common themes is walkability and common green space," Johnson said.

Ho-Chunk broke ground at the site in 2016, and much of the work since then focused on building the infrastructure.

Flatwater Crossing will include a 67,000-square-foot village center, similar to a public square in which pedestrians can visit shops and open spaces. In addition to housing and and commercial construction this year, work will include pouring sidewalks, planting trees and greenery and establishing small parks with play areas. A boat dock on the river also may be completed.

All are the beginning stages of a new neighborhood taking shape just east off of 29th and Veterans Drive on South Sioux City's southeast side.

Developers are promoting the idea that residents will be able to take a short walk from their homes to coffee shops, restaurants, small businesses and offices. Walking trails will lead to the river and the town square area. Homes are required to have front porches and rear garage entries so that driveways don't cross sidewalks and discourage residents from walking throughout the neighborhoods.

"We think it can become a destination," Johnson said of the future mixture of housing, shopping, dining and recreation.

Johnson said homes are being built with high-quality amenities such as quartz countertops, custom kitchen cabinets, fireplaces, hardy siding and hardwood floors.

A scenic view of the Missouri River and the Floyd Monument atop the banks on the Iowa side of the river might attract a few folks, too.

Johnson stood in what will be the living room of one of the town homes currently under construction, showing how large windows will enable residents to watch the river flow by.

Those first town homes, priced in the low to mid $300,000 range, will be finished by late summer or early fall, Johnson said. Three of them will be two stories with three bedrooms and two and a half baths. Two of them will be one-story units with two bedrooms and two bathrooms.

Three spec homes are currently on the market. The fourth was sold recently, and the first Flatwater Crossing residents have moved in. Johnson said single-family homes in the development will range from $259,000-$379,000, depending on size and location. The two-story homes have three bedrooms and unfinished basements.

Johnson said "a handful" of lots have been sold. Buyers can hire their own contractor or have their house built by BluStone Homes, Ho-Chunk's home-building company.

No businesses have committed to locating in the development yet, Johnson said, but it's hoped that once the town homes and apartments are completed and people begin moving into Flatwater Crossing, entrepreneurs will be attracted to the area.