The company's plans feature at least a six-story, 100,000-sq.-ft. building with commercial offices and residential space.

SIOUX FALLS, S.D. (AP) Officials say a development group will invest as much as $70 million in redeveloping the downtown Sioux Falls rail yard.

The Argus Leader reports that city officials have chosen David and Erika Billion to lead the first phase of development on 10 acres acquired in 2015 from BNSF Railway.

The Billions' project, called the Black Iron Railyard development, would encompass roughly 4 acres of the parcel. The company's plans feature at least a six-story, 100,000-sq.-ft. building with commercial offices and residential space.

The plans also include an access road and a bike trail.

The City Council hasn't yet approved the deal, which includes a $2.6 million land purchase agreement and construction milestones.

Mike Cooper, who leads the city's planning department, says the first phase of the Billions' investment is about $32 million.

Today's top stories

Des Moines Airport Works With Weitz/Turner On Expansion

ROMCO Equipment Co., SMT Acquire Bee Equipment Sales

San Francisco County Transportation Authority Bridges Retrofit Addresses Seismic Safety

Year in Review: Bobcat's Major Moments of 2024

MassDOT to Use Drones for Infrastructure Projects; Amherst Exploring New Downtown Designs

Iowa DOT's I-35 Project Includes New Bridges

JM Wood Holds December Auction in Montgomery, Alabama

DEVELON Set to Exhibit at ARA Show 2025