Village On The River is a mixed use parking ramp and hotel and is set to be the new tallest building in South Dakota and Sioux Falls Standing at 15 Stories Tall and will feature parking and two national hotel brands. JLG and the City of Sioux Falls are re-imagining the standard parking garage to create a visually striking, people-focused Live-Work-Play center in downtown Sioux Falls. [1]Village on the River replaces a standard surface parking lot with a totally new and fresh public-private development for downtown to further enhance the vibrant downtown Sioux Falls streetscape. The solution is a win-win for the City, the private developer, and the community: [2]Village on the River will create 525 new parking spots on a high-demand surface lot that currently only holds 135, and by involving a private developer, the City will receive significant tax revenue that was not available on the surface lot. However, the parking literally takes a back seat to retail, restaurants, and offices, which front 10th street and hide the parking ramp tucked behind. A new hotel sits atop these services, and will make Village on the River the tallest building in Sioux Falls and South Dakota. This dual branded hotel will feature around 220 guest rooms and will be a great addition to the downtown area, Of the $50 million estimated project cost, $30 million will be privately funded. The remaining $20 million will be covered by city parking revenues and a $16.5 million, to be paid back at 3.51 percent interest.[3] In all, Village on the River will include more than 500 public parking spaces, 220 hotel rooms, event center meeting space and commercial space for restaurants and retail. The project is expected to be completed by fall 2020.[edit]
