Crestone Development announces purchase of five downtown Watertown properties
January 10, 2021
Mike Tanner
WATERTOWN, S.D.–Crestone Development, a division of Crestone Companies, is making a major investment in downtown Watertown.
Crestone has purchased five downtown properties bookending the east and west ends of Kemp Avenue.
“This is a major commitment to continue the revitalization and development of downtown and
Watertown in general,” said Crestone owner Eric Skott, who has partnered with various investor groups
to purchase the properties. “We believe in downtown Watertown and all of the charm it has to offer! The
opportunities downtown are limited only by one’s imagination. We have acquired several of these
properties with a focus to preserve the rich history and architecture of the area.”
The five properties are:
- “The Hanten” is also known as the “Granite Block Building” on the SE corner of Kemp
and Broadway. This building used to house Todd Architects and Bratland Law. This property, along with
the Melette are currently being studied to determine the highest and best use for the investor group.
Some options are Condominiums, apartments, luxury-professional office space or a boutique hotel.
2. “The Mellette” as it is currently known is the current home of ML Portraits and
several other businesses on the NW corner of Kemp and Broadway. This property, along with “The
Hanten” are currently being studied to determine the highest and best use for the investor group. Some
options are Condominiums, apartments, luxury-professional office space or a boutique hotel.
3. Will be aptly named the “Longworth” after long-time resident and businessperson
whose orthodontics office was housed here for many, many years. This building is currently home to BC
Hair Designz studio on the main level. The 2nd level will house several 1-bedroom apartments.
Construction is being planned.
4. 218 E. Kemp is located directly across the street to the south of the planned downtown
park. It will house 2000 sf of commercial space on the main floor and four 1-bedroom apartments on the
2nd level.
5. The building at 15 1st St. SW, formerly Zimmel’s furniture is on the West end of Kemp and is planned to
be the future home of “The Marketplace.” The Marketplace will be future home to 9,000 sf of retail
space and 62 modern-luxury apartments. This project will involve razing the current structure and
building new.