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HomeMy WebLinkAboutItem 06 City of Lakeville Community & Economic Development Memorandum To: Economic Development Commission From: David L. Olson, Community and Economic Development Director Copy: Justin Miller, City Administrator Kati Bachmayer, Economic Development Specialist Date: September 25, 2018 Subject: September Director’s Report The following is the Director’s Report for September 2018. Building Permit Report The City has issued building permits with a total valuation of $172,804,818 through August. This compares to a total valuation of $185,363,263 for building permits issued through August of 2017. The City has issued commercial and industrial building permits with a total valuation of $23,119,500 through August. This compares to a total valuation of $21,233,000 for commercial and industrial permits through August of 2017. The City has issued permits for 324 single-family homes through August with a total valuation of $101,628,000. This compares to 324 single-family home permits issued through August of 2017 with a total valuation of $101,371,000. The City has also issued permits for 55 townhomes through August with a total valuation of $12,643,000. This compares to 57 townhome permits through August of 2017 with a total valuation of $12,590,000. The City has issued the highest number of residential permits in the Twin Cities through August according to the Builders Association of the Twin Cities-Housing First Minnesota followed by Plymouth, Woodbury, Lake Elmo, and Otsego. Development Update The following are updates on a number of active commercial and industrial projects: • Exterior work is complete on the multi-tenant commercial building located at the intersection of Kenwood Trail and Kenrick Avenue near I-35. Chipotle Mexican Grill opened for business on the east side of the building on Sunday, September 9 in one of the four tenant spaces. Identified future tenants include Bank of America Advanced Center, AT&T and Mattress Firm. • Construction on Lakeside Flats is making significant progress on the former Jackson Landscape property near County Road 46 and I-35. This 120-unit, market-rate apartment building is leasing units and plans to open January 2019. The development includes studio, 1-, 2- and 3-bedroom units, ranging in price from $1,100 up to $2,200. A building permit for Lee Lake Storage, an additional aspect of the planned development, was issued this month. • The 146-unit Edison at Avonlea apartments, adjacent to the Park & Ride on Cedar Avenue started moving tenants in last month. An open house celebration and ribbon cutting will be held on October 1. The market-rate apartments include amenities such as a fitness room, pool, fire pit, grilling areas and underground parking. Renters can choose from 1-, 2- and 3-bedroom units that range in price from $1,265 up to $2,020. • Site work continues for Compeer Financial at 21088 Keswick Loop. This $4.7M project will include the construction of a 2-story office building and will consolidate Compeer staff from the current Apple Valley and Northfield locations into one Lakeville location. • The Advanced Oral Surgery at 19925 Idealic Avenue located off Dodd Blvd next to the Lakeville Area Chamber of Commerce has been framed and enclosed. This new 3,400 square-foot medical office will be the new business home of Lakeville native, Dr. Jacob Yetzer. • Cosmopolitan Orthodontics held a ribbon cutting at its new location near Hy-Vee on September 19. Bethlehem Baptist Church is celebrating its new facility at 20700 Kenrick Ave on September 28. Other upcoming ribbon cuttings include YMCA Childcare on October 10 (in the former Fitness 19 building on CSAH 46) and Aria Technology Group at 10880 175th Court W on October 17. • Walls have gone up for O’Reilly Auto Parts new store in Heritage Commons. Site grading continues on the Hampton Inn & Suites site (near CSAH 70 and I-35) and Valvoline Instant Oil Change (near Hy-Vee and PetSmart). Grading is also taking place at the new Schneiderman’s Distribution Center location near CSAH 70 and Dodd Blvd. Schneiderman’s is expected to be complete in February 2019. Recent Planning Commission and City Council Approved Projects • During the September 17 meeting, the City Council approved a Proclamation declaring October 1-7, 2018 as Manufacturers Week in Lakeville. City staff has been working on the upcoming Manufacturers Week events, including the Workforce Development Panel Discussion and the Manufacturers Appreciation Reception. The event will be held Tuesday, October 2 at Brackett’s Crossing Country Club. The panel discussion will start at 3:30 p.m. and the reception will start at 4:30 p.m. • The City Council approved a final plat and conditional use permit for the Cedar and Dodd Retail Addition, also known as the Hy-Vee C-Store development. The approved plat divides the property located east of Cedar Ave, south of Glacier Way, and west of Dodd Blvd into three commercial lots and two outlots. The CUP is for a convenience food use with a drive-thru. Additional Highlights • Mayor Anderson was a featured speaker at the South of the River Summit on September 20. During the event, he shared the exciting news that Lakeville has been chosen by Money Magazine as one of the Best Places to Live in America. Lakeville was ranked #28 and was one of two Minnesota cities recognized in 2018 (Woodbury was the other city, coming in at #10). • The City of Lakeville will be sponsoring a booth during the Minnesota Commercial Real Estate Association (MNCAR) Expo on October 23. This event attracts hundreds of real estate developers and site selectors. • City staff made a retention visit to Imperial Plastics this month to meet the new CFO, John Thomas and learn more about the company. • Staff attended a workforce panel discussion at Cargill in Hopkins, hosted by the Minnesota Training & Recruitment Network on September 19. • Staff and City Council members will recognize FedEx Freight during MN Manufacturing Week at the October 1 city council meeting as part of the Spotlight on Business program. Courtesy of the City of Lakeville No. 28 Lakeville, Minnesota Lakeville is aptly named — although the bodies of water that freckle this town, located 27 miles south of Minneapolis, would mean far less to the community without the parks that adjoin them. All together, Lakeville maintains 100 miles of walking and bike trails; in winter, it also cuts holes in the lake ice and provides hot cocoa for a youth fishing contest. If instead the day calls for a latte and some shopping, residents can venture to the historic downtown, where a comic book store awaits for the kids. Every summer the downtown transforms for Panorama of Progress, known as Pan-O-Prog, a weeklong festival of activities as disparate as professional wrestling and pottery making. Unemployment in Lakeville is very low, in no small part because the Twin Cities region hosts some of the country’s largest companies, including household names like Target, General Mills, and (yes, of course) Land O’ Lakes. — Max Zahn NOTES: Median home price is based on Q1 2018. Home price to income is calculated using median home price and median family income. SOURCES: Synergos Technologies, Realtor.com, Moody’s Analytics, NOAA, Ed.gov. Illustrations by Martin Laksman. For full Best Places to Live methodology, see money.com/BPLmethodology. Find homes in Lakeville, Minnesota on Customer ServiceSite MapPrivacy PolicyAd ChoicesTerms of UseYour California Privacy RightsCareers © 2018 Time Inc. All rights reserved. MONEY may receive compensation for some links to products and services on this website. Offers may be subject to change without notice. http://time.com/money/collection/2018-best-places-to-live/5361476/lakeville-minnesota/