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Home My WebLink About4. Economic Development ReportCity of Lakeville Community Development Memorandum To:Economic Development Commission From:Kati Bachmayer, Economic Development Manager Copy:Tina Goodroad, Community Development Director Justin Miller, City Administrator Date:May 23, 2024 Subject:Economic Development Report This memo is intended to provide information on new and expanding businesses, proposed development projects and economic development-related events. Development Update •Taco Bell was issued a building permit in March for the construction of a new 2,867- square-foot restaurant location at 20681 Keokuk Avenue, near Emagine Lakeville Theater. •Donut Star was issued a building permit in March to remodel the retail space at 7656 160th Street West, near Carbone's in the Lakeville Crossing shopping center. •Dalsin Industries held a ribbon cutting ceremony on April 9 to celebrate being fully operational in its new location at 9583 217th Street West, Suite 160. The business offers custom metal fabrication and design services. The Lakeville location is almost fully automated. •Natreum Lakeville hosted a ribbon cutting ceremony on April 25 to celebrate its location at 16085 Buck Hill Road, near Mother Earth Motors. The business sells CBD and THC products. •Anytime Fitness held a ribbon cutting ceremony on April 30 to celebrate its remodel at 17811 Kenwood Trail, near Domino's Pizza. The gym is open 24 hours and offers personalized coaching. •RL Cold hosted a groundbreaking ceremony on May 7 to kick off construction on its 284,921-square-foot cold storage facility to be located at 21700 Galway Lane, near Sweet Harvest Foods. •Cedar Lake Outdoors held a ribbon cutting on May 7 at 10880 175th Court West, Suite 220 in the Great Southern Bank building. The business sells made-to-order outdoor patio furniture. •Allina Health and MNGI Digestive Health held a ribbon cutting and open house on May 16 to celebrate opening in the new Lakeville Specialty Center located at 18465 Orchard Trail (near Buffalo Wild Wings). •Exuberance Chiropractic & Wellness Center held a ribbon cutting celebration on May 21 to celebrate their new location and event center at 17830 Kenwood Trail (in the former Advanced Auto Parts building near Culver’s). •Children's Minnesota Specialty Center was issued a building permit in April to expand its clinic at 18432 Kenrick Avenue into the former Quiznos tenant space. •Walmart was issued a building permit in April to remodel the former Subway into a new ice cream shop, La Michoacana Purépecha. •A preliminary plat is under review for Sundance Lakeville which will include two lots for medical office to be developed by Mark Davis located north of 162nd Street and west of Buckhill Road. •A preliminary plat and PUD are under review for Kenyon Green which will include a 49-unit workforce apartment building to be developed by Ron Clark Construction. This apartment building and 15 rental townhomes is proposed west of I-35, north of 185th Street and south of Keyon Avenue. Coming Soon •TGK Automotive Specialists is moving into the former Big O Tires building at 17900 Kenwood Trail. •LBC On The Lake will open for the season at Antlers Park on May 22. The seasonal restaurant will offer a curated food and beverage menu to visitors at the newly re- opened park from May-September. •Niche Books is opening in downtown Lakeville on June 1. The business will be located at 20784 Holyoke Avenue, next to Tapestry Coffee. •Sweet Harvest Foods will host a ribbon cutting ceremony on June 25 to celebrate opening in their new 360,000-square-foot building at 21601 Galway Lane (near County Road 70 and Cedar Avenue). Building Permit Report The City has issued building permits with a total valuation of $58,629,199 through April. This compares to a total valuation of $87,118,070 for building permits issued through April of 2023. The City issued permits for 108 single-family homes through April with a total valuation of $32,599,000. This compares to 111 single-family home permits through April of 2023 with a total valuation of $32,008,000. The City has also issued 44 townhome permits with a total valuation of $10,280,000 through April, compared to 36 townhome permit with a total valuation of $7,423,000 during the same period in 2023. Lakeville is currently ranked #2 in year-to-date Twin Cities residential building permits, according to Housing First Minnesota. Additional Highlights •The Minnesota Real Estate Journal hosted its 20th Annual Land Development Summit on March 15 in Golden Valley. Community Development Director Tina Goodroad was in attendance at the event to promote Lakeville development opportunities and spoke during the "Municipalities: Collaboration Allies in Land Development" session. •The 2024 State of the City presentation was held on April 17 at the new Antlers Park Pavilion. Mayor Hellier, Community Development Director Tina Goodroad and Parks & Recreation Director John Hennen provided updates on what happened in Lakeville in 2023 and what to look forward to in 2024. In addition, Chamber President Krista Jech gave an update on the Lakeville Works program. The presentation can be found at LakevilleBusiness.com. •The Minnesota Real Estate Journal's 2nd Annual Southeast Metro Development Summit was held on May 23 at the Mendakota Country Club. Community Development Director Tina Goodroad moderated an infrastructure and development panel during the event that focused on Dakota and Washington County projects. Development News Resources •Lakeville’s Interactive Development Map includes information on development projects in the City. •Thrive! Business Newsletter is distributed monthly and includes development updates and helpful business resources. •City of Lakeville YouTube channel for Thrive! videos and other city news.