Great States Development Acquires Jackson Heights Multifamily Community in Harrisburg, South Dakota

Great States Development has completed the acquisition of Jackson Heights Apartments and Townhomes, a 56-unit multifamily community in Harrisburg, South Dakota, the firm announced. The transaction closed June 1, 2026, and represents the company's second acquisition in the Sioux Falls market.

Property Details and Amenities

The Jackson Heights community features a mix of apartments and townhomes spanning one-, two-, and three-bedroom layouts. Each home includes in-unit laundry, central air conditioning, and a patio or deck. Select units also include an attached private garage.

Financial terms of the transaction were not disclosed.

Great States Development Deepens Sioux Falls Presence

The acquisition builds on Great States Development's existing footprint in the region. The firm acquired Huntington Village, located minutes from Jackson Heights, in 2025. Scott Houle, President of Great States Development, cited the proximity of the two assets as a strategic consideration.

"Jackson Heights fits very well with our acquisition and development strategy, especially in markets like Sioux Falls," Houle said. "It is a great addition to our portfolio given its close proximity to Huntington Village."

Harrisburg Market Fundamentals

Harrisburg, identified in the announcement as South Dakota's fastest-growing city, has recorded a 60% increase in population since 2020, according to Great States Development. The firm noted that demand for market-rate housing in the area has pushed immediate vacancies below 3.6%.

Houle pointed to those conditions as central to the firm's regional thesis. "Sioux Falls and the surrounding communities have many of the growth fundamentals our team looks for," he said. "The combination of continued population growth and a strong and diversified local economy make this region one we look to for further growth opportunities."

Professional Management and Outlook

The community will be professionally managed by Collective, which assumed management responsibilities at closing. The firm did not disclose a renovation or repositioning plan for Jackson Heights, nor did it provide details on in-place occupancy or current rent levels at the time of acquisition.

Houle's comments indicate the firm views the Sioux Falls area as a continued target for acquisition activity.

Sources

Great States Development – Jackson Heights Joins the GSD Portfolio (June 1, 2026)