Amended lease agreement approved between city of Watertown and Craig Development (Audio)

December 6, 2021

WATERTOWN, S.D.–An amended lease agreement for shared space between the city of Watertown and a downtown developer was approved at Monday night’s city council meeting.

Developer Jesse Craig is building a new apartment building called The Ruins along Kemp Avenue. It’ll be located at the site of the former Palace Apartments (pictured), which were demolished.

The shared space is 1,200 square feet in size, and will be in The Ruins, and also adjacent to the new Foundation Plaza park that’s under development. 

City Attorney Matt Roby explained what the amended lease covers…

The shared space will include public restrooms and some space that the city will utilize for storage.

Craig is leasing the space to the city for one dollar a year.