SIOUX FALLS, S.D. (KELO) — Monarch Development Partners broke ground on a new 64-acre housing subdivision in Canton Tuesday.
In a press release from Canton’s Economic Development Corporation and Sioux Metro Growth Alliance, it was stated that EXP Development teamed up with Canton’s local economic development organization to bring more single-family homes and multi-family units to the community.
“Canton Economic Development Corporation has been working on this project for the past three years and I am extremely proud to be part of the board that will be able to bring this development to fruition. This housing development will not only be beneficial to our local businesses, our school but our entire community and help us grow for the future,” said Scott Larson, Board President of the Canton Economic Development Corporation in the press release.
EXP Development, the lead developer on the project is excited to be working in the Sioux Metro region and becoming a partner in helping to grow Canton.
“EXP Development is profoundly pleased to partner with the Canton Economic Development Corporation and the City of Canton to present the Liberty Additions, a community where affordability, quality, tranquility and enjoyability coalesce,” said Charles Yi, owner of EXP Development.
This development will include a single-family housing inventory of start-up, step-up and third-tier housing options. There likely will be limited availability of ready-build lots as well.
The multi-family options will include traditional units, along with the potential ownership availability of select houses.
The buildout is demand-driven and as such will likely include an inventory of twin homes, row homes, villas and more traditional builds.
“I know all stakeholders want to thank the South Dakota Housing and Development Authority and the South Dakota State Legislature for the opportunity to secure $3.3 million in grant funding through the Housing Infrastructure Finance Program,” said Jeffery Tanner, executive director of the Canton Economic Development Corporation. “It should be mentioned how honored I am to work with the CEDC Board of Directors. They have had both the vision to see paired with the will to do. That is a unique and special combination. It’s what makes great things happen. I also want to send a special thank you to EXP Development for their commitment to excellence and to our Board President who has walked with me every step of the way resulting in us having a development today.”
