One of Sioux Falls’ biggest developers is joining David R. Billion on a new retail center slated for West 41st Street.

Empire Place is expected to open in 2020 at the old Sioux Falls Ford site, the result of a partnership between Lloyd Cos. and the younger Billion, who are also joined by B&H Realty and MLR Partners. The concept is still flexible, but developers are planning to begin work this year and will start leasing tenants immediately, according to a Tuesday announcement.

More:New anchor store announced for Empire Mall

“We view this as an incredible opportunity to redevelop a premier retail site in Sioux Falls,” Lloyd Vice President of Commercial Real Estate Raquel Blount said in an emailed statement. “It offers the ideal space for many retailers and restaurants that have wanted to be in our market for a long time, and it provides a way for an existing business to secure a new or additional location that will bring even more visibility and traffic.”

The old car lot is located just north of the Empire Mall, on one of the most highly trafficked stretches of road in South Dakota.

Developers hope to benefit from the recent success of the mall, which has continued to attract new stores despite the financial woes faced by national retail chains.

“It will either be all retail development, or it could potentially have some element of multifamily or hotel space,” Blount said. “Certainly, we intend to incorporate restaurants on site. We’ve already had interest there. And the entire site will be nicely landscaped and pedestrian-friendly with ample parking.”