An Iowa investment group is scheduled to formally break ground this morning (May 19) on a $1.4 million “toy box,” which will provide condominium-style storage units for recreational vehicles, boats, collectible cars and other large items.
“The Dunes Toy Box Storage Condominiums will provide an innovative solution for a much requested amenity for Dakota Dunes and the surrounding communities,” Dennis Melstad, president of Dakota Dunes Development Co., told the Sioux City Journal.
The planned community’s project will feature 36 storage units, with 45,000 square feet of space, providing a convenient, secure, gated-environment for residents to store RVs and other valuable toys.
Patrolled 24 hours per day, the well-lighted units will be big enough to house a 45-foot RV. By combining the 25-foot-wide by 50-foot-deep units with adjacent spaces, owners gain up to 100 feet of depth with drive-thru capability and virtually unlimited width.
The investment group, Dunes Toy Boxes LLC, borrowed the idea from other markets where the condo storage units have proven successful, said Chris Bogenrief, a commercial broker associate for Century 21 Davenport & Associates, representing the developers. Bogenrief said when he first heard about the concept, he immediately thought of Dakota Dunes.
“Over the past 10 years, we’ve heard many comments from area residents about their desire for a place to store their ‘toys,'” he said. “The real beauty of this storage concept is that you own your own condo, with the opportunity to recapture your investment if you ever decide to sell.”
Kyle Kelly, a Century 21 Davenport commercial broker associate also representing the developers, said the project allows owners to customize their unit, or ‘box,’ adding optional features such as cable television and restrooms.
“You can load your toy box with enough amenities to make it an enjoyable place to relax and spend time on your favorite hobbies,” Kelly said. “It can be your own private workshop or your “home away from home.”
Melstad said the site is especially convenient for Dakota Dunes residents. Following a record year of homes sales, there’s increased demand for such storage units in the master-planned community of more than 2,300 residents, he said.
Already, 20% of the first phase of Dunes toy boxes have been spoken for, local officials said.