Matching fund donation from John T. Vucurevich Foundation looks to help housing shortage

A matching $5 million contribution from the John T. Vucurevich Foundation to the Rapid City Strategic Housing Trust Fund looks to help alleviate problems within the housing shortage in Rapid City.

RAPID CITY, S.D. For years, discussions to solve a housing shortage in Rapid City have continued.

Housing Shortage 3Discussions in events like Summits, Crackerbarrels and Roundtables, all looking for answers.

“We don’t have a great answer yet,” said Jake Quasney, the Executive Vice President of Development for Lloyd Companies. “I mean, it’s all little things that we’re doing to make a difference, and that’s going to be the key with with everything we have going, we’ve got to make a difference today. But hopefully have something. That’ll make a difference 10 years from now too.”

Developers say it would take a herculean effort with their current work force that might not be enough.

“It’s hard because you could drop a few 1000 units and we’d still need to keep going,” Quasney said.

State legislators are seeking ways to get the support from other lawmakers around South Dakota where an agreement helps all South Dakotans.

“You have to look at other parts of the state,” said South Dakota District 34 Representative Mike Derby. “How will they be affected by what you’re doing then build a coalition to get the support.”

One possible fix is part of a matching $5 million contribution from the John T. Vucurevich Foundation to the Rapid City Strategic Housing Trust Fund.

Funds that will go towards creating below average rent options for a workforce trying to get here.

“Right now we have a tremendous need for for rents under $1000 and this will hopefully create some more of that development and sent the developers to look at that workforce market, because that work for forces who lives in the Black Hills,” said Liz Hamburg, the CEO of the Black Hills Area Community Foundation.

Local developers and organizations are looking for answers to a growing housing shortage.

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