Sometimes you just have to walk, as my father taught me, by faith.
And faith is what the city’s plan to redevelop a troubled neighborhood might require.
Mayor Dave Munson’s administration appears poised to craft a deal with local banks that would give the city a $5 million line of credit to buy blighted property between 10th and 12th streets and Minnesota and Covell avenues.
The city, in turn, would sell the properties to private developers. The idea is to encourage redevelopment in an area that the private market largely has ignored.
To be sure, it’s a gutsy move on the administration’s part. That’s because the private sector, in its own way, already has spoken on the issue.
For instance, a few years ago Exit Realty attempted to broker group sales of homes in that area. Its plan was to gather an agreement among individual property owners to sell an entire block south of 11th Street. So far, that plan hasn’t worked.
However, there has been other redevelopment activity worth noting. Take for example, The Historic Loop on 10th Street.
That project includes a 17,000-square-foot office building – which is going up next to the relatively new Dollar Loan Center headquarters – and a 6,000-square-foot strip mall. A restaurant also might be coming.
Dunham Co. also recently built Lake Centre I and II, two commercial buildings on a stretch of West 12th Street that skirts the identified area.
Those projects indicate that developers haven’t abandoned the area totally. So the city might be able to lure developers into other areas of the neighborhood.
It’s still important to be careful when talking about redeveloping this aging section of the city. Not every old house should be torn down to make way for newer commercial or residential space.
In fact, the Sioux Falls Board of Historic Preservation hopes that three sites in the area could be placed on the National Register of Historic Places.
Because the neighborhood is among the oldest areas in the city, some homes arguably have as much historic value as those found in the formal historic district to the north or even McKennan Park area to the southeast.
The type of redevelopment that might occur in the area must also preserve the neighborhood’s importance. Otherwise, an irreversible tragedy would strip away some of the city’s history with one swath of a bulldozer.
Nonetheless, something must be done to help the area. Some homes do need to come down. Some businesses could use a face-lift. And the neighborhood, in general, needs to redefine its identity.
In that light, Munson’s administration deserves credit for stepping forward with a plan.
The downside of the city’s idea is that taxpayers could get stuck with property that the city can’t unload. At a possible $5 million, that would be an expensive setback.
Still there are times when, as a city, we must take calculated risks. And most folks know that advancements often are accompanied by such risks.
This could be one of those moments for an area of Sioux Falls that deserves the city’s collective attention.
Although the city’s plan seems like a journey of faith, it’s one worth taking.
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