SIOUX CITY, Iowa (KTIV) -
After being up for sale for more than a year, it's a done deal. Sioux City's Terra Centre is now in new hands, after officials closed Wednesday.
The largest investor in the project, economic development corporation Ho-Chunk Incorporated of Winnebago, Nebraska. With them, development firm the Dunham Company of Sioux Falls, the Prairie Band Potawatomi Nation of Kansas, and a few others.
"It's the iconic building in town, and I think that it's going to be a great facility," said Ho-Chunk CEO Lance Morgan.
Morgan says there's a lot in store for one of Sioux City's tallest towers. Built in 1983, he says investors are planning to pour in more than $1 million worth of aesthetic and infrastructure updates.
"The building is 30 years old, and so we want to update a few things. We're going to have a first rate, first class facility," said Morgan.
Once some previous tenants move out in April, the building will have about 75,000 square feet up for grabs. Ho-Chunk says they're planning to use the top floor for a satellite office. Developers aren't giving specifics yet, but expect a variety of businesses to fill the rest of the building.
"We hope to bring some retail back in. Not a lot, but some. We expect to get it full," said Dunham Company Owner Don Dunham.
Dunham says his company will manage the property. He says as the Terra Centre changes for the better, downtown Sioux City will too.
"I think you're going to have people coming in another building, filling up the parking ramps, going to the places to eat downtown. I think it's going to be very positive," said Dunham.
Ho-Chunk, which is also making a bid to operate a land-based casino in downtown Sioux City, has said they'd like to rename the Terra Centre, the Ho-Chunk Centre. They say that's still in the air, though.
