Loading...
HomeMy WebLinkAboutItem 05 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: October 24, 2018 Subject: October Director’s Report The following is the Director’s Report for October 2018. Building Permit Report The City has issued building permits with a total valuation of $198,905,491 through September. This compares to a total valuation of $200,280,651 for building permits issued through September of 2017. The City has issued commercial and industrial building permits with a total valuation of $34,360,500 through September. This compares to a total valuation of $26,876,000 for commercial and industrial permits through September of 2017. The City has issued permits for 353 single-family homes through September with a total valuation of $111,467,000. This compares to 346 single-family home permits issued through September of 2017 with a total valuation of $108,976,000. The City has also issued permits for 66 townhomes through September with a total valuation of $15,340,000. This compares to 62 townhome permits through September of 2017 with a total valuation of $13,767,000. The City has issued the highest number of residential permits in the Twin Cities through September 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 walls have gone up on the new Schneiderman’s Distribution Center. This 130,000-square foot building is the first to go up in the Interstate South Logistics Park at the corner of County Road 70 and Dodd Blvd. This project will bring 44 jobs to the City and is expected to be ready in February 2019. • The 146-unit Edison at Avonlea apartments (adjacent to the Park & Ride on Cedar Avenue) held a ribbon cutting on October 1st. During the event, management staff noted that the market-rate development is 50% leased. Renters can choose from 1-, 2- and 3-bedroom units that range in price from $1,265 up to $2,020. • Exterior work on the Advanced Oral Surgery building (located near Rainbow Child Care Center off Dodd Blvd) is nearing completion, as well as the O’Reilly Auto Parts building in Heritage Commons near Teresa’s Mexican Restaurant. • Several commercial building permits have been issued including: HomeGoods, which will be located in the former OfficeMax space next to Marshall’s and Target on 185th Street and Kenrick Ave. Wag N’ Wash Natural Food & Bakery, located in Heritage Commons next to Metro Dentalcare (opened the weekend of October 26). Wings Financial Credit Union, to be located next to Freddy’s Frozen Custard & Steakburgers off Pilot Knob Rd (near Hy-Vee). • Construction on the Bethlehem Lutheran Church and Kingsway Senior Housing (55 market-rate units) has begun. This new development is located near Lakeville North High School at the intersection of Ipava Ave and Indiana Ave. • The YMCA Early Childhood Learning Center, located in the former Fitness 19 space, held a ribbon cutting on October 10 and Aria Technology Group (located in Great Southern Bank’s building) held one on October 17. • 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. • Construction continues for Compeer Financial at 21088 Keswick Loop. The construction of this 2-story office building is anticipated to be complete in Spring 2019. The project will consolidate Compeer staff from the current Apple Valley and Northfield locations into one Lakeville location. Additional Highlights • FedEx Freight was recognized during the October 1 City Council meeting as part of the Spotlight on Business program. The video can be viewed at: https://www.youtube.com/watch?v=WysngjvyBxg. • The City of Lakeville hosted its annual Manufacturers Appreciation Reception on October 2nd at Brackett’s Crossing Country Club during MN Manufacturing Week. The City also held a Workforce Development Panel Discussion one hour before the reception. Both events were well attended and the local manufacturing companies had a chance to learn about workforce solutions, as well as network with each other. • The City of Lakeville sponsored a booth during the Minnesota Commercial Real Estate Association (MNCAR) Expo on October 23. This event attracts approximately 70 exhibitors and 600 real estate developers, site selectors, construction companies, and municipal and county government officials. City staff members were able to promote Lakeville as a great place to do business, as well as visit with companies who are currently working on projects and/or were interested in starting projects in the City. • The Open to Business program has provided consulting services to 9 Lakeville businesses and 11 Lakeville residents thus far in 2018. The total number served in Dakota County through September 2018 is 102 clients.