Construction

An apartment building under construction on June 13, 2023, in eastern Rapid City. (Seth Tupper/South Dakota Searchlight)

A historic housing construction boom may finally moderate rent hikes

BY: - October 18, 2023

An unprecedented surge in the nationwide construction of new housing — mostly apartments — may finally be making a dent in fast-rising rents that have been making life harder for tenants. More than 1.65 million housing units were under construction across the U.S. last year, the highest annual number since federal record-keeping started in 1969. […]

Officials break ground in September 2022 on the Nucor Mineral Industries Building at South Dakota Mines in Rapid City. (Photo courtesy SD Mines)

Officials blame inflation for state building projects that are millions over budget

BY: - February 13, 2023

Eight building projects already approved by the Legislature need about $30 million in additional funding due to rising costs, state lawmakers were told Monday at the Capitol in Pierre. State officials told the Joint Committee on Appropriations about the challenges of trying to keep project costs under control amid high inflation. One of the projects […]