Downtown Rapid City parking lot to be converted into apartments, businesses, and hospitality

Published: Feb. 7, 2021 at 6:27 PM CST
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RAPID CITY, S.D. (KOTA) - Block 5, a new construction project in Downtown Rapid City featuring apartments, businesses, and hospitality.

“Downtown has a lot of really cool historic buildings and Rapid City’s unique because they’ve brought the amenities with Main Street Square and all the restaurants and all the bars, and there’s a lot of really good activity but we don’t have the living and that’s the thing that this is going to add,” says Jake Quasney from Lloyd Companies.

The five-story project will be taking over the existing parking lot on St. Joseph Street between fifth and sixth street.

When finished it will house around 85 apartments, an underground parking garage, and a connection to a Hyatt hotel.

But more importantly, the businesses it will bring in.

“We want the right businesses to come along and essentially partner with us in the atmosphere that we’re trying to create is really contributing to the activity of downtown,” says Quasney. “So things that are going to drive traffic and make people want to be there or something a little bit unique in the sense that it offers something different and a place that people want to go, adds to the destination feel of the development and just that area.”

Quasney says the development won’t just improve that part of town.. but the more than 40 million dollar project will improve the downtown area as a whole

“We see vibrant communities, that vibrant downtown, where people want to be and businesses want to be there and just attracts more people. So we hope to be apart of that and this is just our first investment in downtown Rapid City and first of many,” says Quasney.

Llyod companies still have some details to iron out, but estimate the start of construction later this summer.

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