SiouxFalls.Business Report: Spike in apartment vacancies expected, new businesses coming to Empire Place

SIOUX FALLS, S.D. (Dakota News Now) – Jodi Schwan with SiouxFalls.Business visited to discuss trends in apartment vacancies, as well as an old-fashioned candy and soda shop Rocket Fizz and Snooze Mattress Company coming to Empire Place.

Starting with apartments in the Sioux Falls area, a spike in vacancy might be coming, but it hasn’t quite arrived yet.

Twice a year we get a look at vacancies in the market, and as of the end of July, it hadn’t really moved. We went from just under 6 percent vacancy at the start of the year to just over it now.

Still, that’s what many would consider a healthy market. Two things are likely at play – the Sioux Falls area population is continuing to grow, and many people start by living in apartments.

And the housing market has made buying challenging for many, whether that’s finding what they’re looking for or being able to afford it.

But there still are thousands more apartments in lease-up right now, so in six months, that occupancy could be a different story.

Turning to retail, Empire Place by the mall is nearly full.

You might remember recently we told you Hallmark would be returning there, and that’s still the plan before the holiday season. And now there will be some company.

A national candy and soda shop called Rocket Fizz is moving into the former Hawaii Fluid Art space. You can expect hundreds of varieties of soda, along with vintage and international candies and 100 kinds of taffy.

They plan to open yet this month, and the space is being redesigned to look like an old-fashioned candy shop.

And soon after that, a new mattress shop called Snooze Mattress Company, another national company, plans to open with a lot of technology to guide you to your ideal mattress.

The only remaining available space there now is the former Drybar salon.

You can stay up to date with the latest business headlines at SiouxFalls.Business.

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