The first Craig Lloyd development was built with scrap lumber more than 60 years ago in the dirt of western North Dakota.

The contractor was 4 or 5 years old.

“We’d go around to wherever we could find used lumber, and we’d build huts,” said Lloyd, whose family was in the lumber business.

His grandfather became his first “investor,” sending him $2 through Western Union and a note: “Craig, here’s a little bit of equity for your latest development project.”

From those roots would grow a major player in Sioux Falls development. Lloyd Cos. has a portfolio that includes 1.6 million square feet of commercial space and more than 4,000 apartments.

At age 67, Lloyd now finds himself looking to a new generation.

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