Costello Property Management South Dakota
Costello Property Management South Dakota – It’s a side effect of strict energy efficiency standards used to design and build the building, which opens to low-income tenants later this month.
Copper Pass is the first apartment building in South Dakota to meet International Passive House standards.
Costello Property Management South Dakota
Originally commissioned by Gov. Dennis Daugaard and state officials, the apartments in southeast Sioux Falls are designed to minimize heat emissions and energy use, according to Passive House certification. US House Institute.
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Daugaard and other city and state leaders opened the building Wednesday as Costello Cos. opened it for tours.
Bakir Pass is designed with modern flair both inside and out, but almost every architectural aspect of the building works to increase energy efficiency.
A flat roof is designed to reflect heat. The 48 solar panels on the roof cover the tenants’ energy consumption. The exterior, called the “brow” by the builders, provides a modern look and also serves to reduce heat from the sun. Windows are triple layered and feel warm to the touch. There is more insulation behind the wall than in standard buildings, and a large ventilation system slowly circulates throughout the building, using exhaust air from the building to bring in fresh air from outside.
Designed by VanDeWalle Architects, the structure had to pass several tests before, during and after construction to be certified as a passive building.
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Costello was selected by state officials to develop the project and received more than $1 million in state funding for the project. Wells Fargo provided financing to cover the additional costs of the $6.2 million project.
Six tenants will be living in the building within a few weeks, and there is a waiting list of other households interested in exploring the building, said Costello’s owner Joan Franken.
Costello Property Management in Sioux Falls, South Dakota is one of the oldest communities in the area. Contact one of our local Senior Consultants for Mom for free, expert advice on finding the right community for your needs and budget.
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The features and amenities presented on this page include marketing information provided by the community. A Place for Mom has not verified the completeness of the information provided, and cannot guarantee its accuracy. Seniors and Their Families To complete a thorough investigation, review any listed location to confirm the accuracy of the community description, verify that the community offers the services necessary for senior needs and budget, and review additional licensing and state audit information. Please contact Place for Mom with any information that needs to be updated or addressed. Mother’s Place uses the term “assisted living” to mean that the community provides some level of assistance with activities of daily living. It does not indicate that the facility meets official state requirements for the level of care. Owner Dan Costello sold his share of the company on June 1 to Joan Franken, who is doing accounting and growing the business.
“It’s not blood, but I think it’s still in the family,” said Costello, whose brother Tom remains an owner in the property management company. “That’s how I look at Joan, and that’s how Tom and I always looked at her.”
“It’s wonderful to work here,” said Franken, who started 19 years ago and has worked on 32 projects. “We’re a growing company, but we feel like a small, family company.”
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Costello manages 3,601 units in 89 apartment complexes in South Dakota and Nebraska. 95 percent of them participate in federally subsidized affordable housing programs. The property management company has 111 employees.
Dan and Tom Costello are fourth generation family owners. Their father started building affordable housing in the 1960s when the federal government provided funding.
“That’s always been our focus,” Dan Costello said. “There are a lot of people working with affordable housing, but they’re not the main job.”
The company develops its projects in many ways at the market rate. It’s about selecting sites that focus on aesthetics and offering certain amenities.
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“What we’re always trying to do is come up with a better plan,” Costello said. “Affordable housing is like all real estate. Basically, if you have a good location and a nicer, more modern product, you’re going to be much better off.”
The new Costello project in southeast Sioux Falls is filling up before it opens. The eviction of the Willows Apartments near 54th Street and Sycamore Avenue will add 62 units and a community room in two buildings.
The company’s first 124-unit project in the neighborhood had a long waiting list, and half of the new project was already filled even though it didn’t open until August.
“It’s a great location, a new part of town, and it’s going to grow,” Franken said. “There’s no affordable housing. There’s only really good housing. It’s helping real estate, it’s making bankers and investors happy, and with our product, we’ve really tried to match the market-rate units … so neighbors will welcome them into the community.”
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The company-owned project will add 62 apartments in Rapid City. Costello is also consulting on and will manage a 30-unit project at Westwood Apartments in Yankton and Sioux Falls, which will add 56 units at 32nd Street and Ellis Road.
“They’re a great company, very professional,” said Lorraine Polak, the authority’s director of rental housing development. “They do a great job and we have a great relationship with them. They’ve really touched a lot of communities in the state.”
“The integrity of what we build is very important,” Franken said. “We don’t want it to be like low-income housing. It has to be market-rate and a quality place for people to live.
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