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Deadlines Set for Rapid City Downtown Development

FILE: Rapid City, Downtown
WikiMedia Commons

RAPID CITY, S.D. (AP) — Rapid City Council members have set deadlines for a proposed $50 million downtown development but say they still support the project that was first proposed seven years ago.

The President’s Plaza project is to include a mix of retail shops, a hotel, a convention center, condominiums and a 500-stall parking garage. Hani Shafai with developer Dream Design International says more time is needed to secure financing.

The deadlines include having President’s Plaza entered into a contract by the end of 2015, with construction starting within the first six months of 2016. If the $50 million design isn’t achievable, the developers are required to either move forward with a scaled-down design or abandon the project by Jan. 31, 2015. If the deadlines aren’t met, the project could lose city aid.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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