Yankton commission approves final $1.7M funding for mall redevelopment project

Yankton City leaders are poised to make a significant investment in revitalizing the local mall, with a request for an additional $1.7 million to complete the project. This funding aims to attract three major retailers, which officials believe will serve as anchors to draw in more businesses and revitalize the shopping center.

During the April 28, 2025, Regular Commission Meeting, city officials discussed the financial implications of building out spaces for these large stores. The cost per square foot for renovations varies dramatically between smaller and larger retail spaces, highlighting the need for substantial investment to make the mall competitive. "If you think about a 6,000 square foot store versus a 50,000 square foot store, the build-out costs are wildly different," one commissioner noted.

The original proposal, which included the $1.7 million request, was presented as a one-time investment to secure these anchor stores. However, some commissioners expressed concerns about the potential for future funding requests. "How do I know that this is your final phase of support?" one commissioner asked, emphasizing the need for assurance that this would be the last ask for funding. In response, officials assured the commission that this would indeed be the final request, promising that approval would lead to a fully operational mall filled with national retailers.

Discussions also touched on the importance of negotiating with incoming businesses to ensure a diverse and appealing mix of tenants. Officials confirmed they are actively seeking the best deals for the community, without bias against potential tenants. "We're negotiating the best deals with the best tenants for the project," one representative stated.

The meeting underscored a renewed commitment to revitalizing the mall, with city leaders expressing optimism about the potential for economic growth. "We're looking at the pitch that's coming down at us, and we could swing and hit it out of the park," one commissioner remarked, reflecting a hopeful outlook for the future of retail in Yankton. The anticipated outcome of this investment is not only to fill the mall with stores but also to enhance the overall economic landscape of the city.