March 23, 2023

This paid piece is sponsored by Sioux Metro Growth Alliance.

For a serial entrepreneur, there’s nothing like investing in your own hometown.

So when Todd Gannon and his wife, Shari, were looking for a business to balance out their full-service seed dealership and tree farm, they looked to Canton.

“I’m a hometown boy, born and raised in Canton, and we moved back to the community about eight years ago,” Gannon said. “I enjoyed growing up here, saw the potential, and it’s where I wanted to raise my kids.”

Their newest business ventures involve giving new life to aging real estate – beginning with restoring homes and continuing with their latest acquisition – a former bank building downtown they’re renovating into new commercial spaces.

“One thing we like is how versatile this city is,” Shari Gannon said. “Canton is really open to a blend of things, from the schools to sports and fine arts. There’s an awesome energy and a lot of forward-thinking people stepping up to the plate to help move Canton forward.”

It’s palpable, said Jesse Fonkert, president and CEO of Sioux Metro Growth Alliance.

“Attitude has so much to do with moving communities forward, and Canton is showing how invested people here are in the future,” he said. “Canton has always had a lot going for it – from business activity to county government – but now this community seems to recognize that and be ready to build on it.”

Literally, build on it.

Canton has not one but two housing developments in progress, including a 64-acre joint venture between a developer and the Canton Development Corporation.

“We’re excited about that,” said Jeffery Tanner, executive director of the group and president and CEO of the Canton Chamber of Commerce. “I definitely think there’s a need for it, and we’re very confident we’re going to be pre-selling homes.”

The 64-acre development is moving forward with engineering and design for a mix of single-family, multifamily and villa-style homes. It’s located along Hiawatha Golf Club.

“It’s going to offer options for everyone from renters to first-time buyers to buyers looking for step-up homes, with a setting featuring a large amount of green space, walking paths and water features,” Tanner said.

The other housing development is on 20 acres in northwest Canton not far from the high school.

“There will likely be a heavy dose of multifamily in there and probably some starter homes,” Tanner said. “I think both developments are on pace with where they need to be for people to start moving in next spring.”

Like many Sioux Falls metro communities, there’s not a lot of available housing in Canton. The Gannons have seen strong interest in the dozen homes they’ve renovated and resold over the past few years. Here’s a look at some of their before-and-after renovations:

“Inventory in Canton is a big challenge,” Todd Gannon said. “I’ve been part of economic development efforts for six years, and the entire time we’ve talked about getting more housing in town. But now, we’re finally right there, and it’s happening, and it’s exciting.”

Commercial interest grows

The Gannons have dubbed their building at Fifth Street and Main Avenue as The Vault on Fifth.

With seven potential offices, the building includes an open lobby, elevator, drive-thru window, lower-level gathering space and break room with kitchenette.

“So there’s a lot of flexibility for how we can build this out depending on what a tenant desires,” Gannon said. “We think more homes are going to equate to a bigger demand for professional services, and we wanted to offer that. So we’d been looking at lots in town when this building came on the market, and we fell in love with the design and the potential.”

The space is listed for lease with Autumn Kaufhold of Van Buskirk Cos.

“When I first met Todd, I knew his love of Canton runs deep,” Kaufhold said. “This family invests in the city, and we want this to be a long-term successful investment, so it’s important to bring the right tenants together.”

While the 5,235-square-foot space could lease to a single tenant, there’s also opportunity “to get creative with the layout and offer executive office suites,” Kaufhold said. “We like the idea of like-tenants working together – attorneys, accounting, health care providers would all be a good fit.”

Retail uses are possible too, Gannon said.

“I love the building for how flexible it is,” he said. “It’s on such a prominent intersection that there is retail opportunity. There’s a small parking lot plus a drive-thru, so if someone has a retail concept, we could do that on the main level.”

Shari Gannon sees opportunity for her own business: marketing firm Krave Branding, which has an office in Sioux Falls.

“I’m looking at putting a remote office in the building because we have clients in Canton and I think it’s important to have a presence in town,” she said. “And we think other Sioux Falls businesses could feel the same. It’s a place to hold meetings or work a couple days a week, and you’re right on the main road in a great location close to everything.”

There’s demand for the space, Tanner predicted.

“One of the biggest things identified as a need in Canton, in addition to housing, is commercial space,” he said. “County offices have a need to expand as does the private sector.”

The community’s industrial park is seeing solid interest too, he said.

“We’re working on a deal now that might prompt the acquisition of the rest of the park, which would leave us full,” Tanner said. “And we’re working with a couple of existing businesses looking at major expansions that would each involve significant job growth.”

In the retail sector, the Sioux Valley Grille is “thriving,” and another local restaurateur is making plans for the former Garden of Eat’n.

“They’ve done considerable remodeling, and I think there will be more details shared soon,” Tanner said.

The community continues to work through rising costs to gain more private support for a new outdoor pool. Other private projects in the pipeline include a new gas station and convenience store and even a potential hotel.

“These are really encouraging developments,” Fonkert said. “It’s clearly an exciting time to be in Canton.”