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HomeMy WebLinkAbout4. Economic Development Report City of Lakeville Community Development Memorandum To: Economic Development Commission Kati Bachmayer, Economic Development Manager Tina Goodroad, Community Development Director Justin Miller, City Administrator June 25, 2024 Economic Development Report This memo is intended to provide information on new and expanding businesses, proposed development projects and economic development-related events. • LBC on the Lake, located at 20135 Ipava Avenue (in Antlers Park), held a ribbon cutting ceremony on May 22. The new seasonal restaurant is open daily from 11 a.m. to 9 p.m. through September 15 and sells a variety of food and beverage items. • Niche Books opened in downtown Lakeville on June 1 at 20784 Holyoke Avenue, next to Tapestry Coffee. • Goldfish Swim School held a ribbon cutting ceremony on June 4 at 20198 Heritage Drive. The new business, located in the Heritage Commons shopping area near Papa Murphy’s, offers swimming lessons to children aged 4 months to 12 years. • F3 Lounge & Event Center held a ribbon cutting celebration on June 11 at 17830 Kenwood Trail. The event space is located at the back of the Exuberance Chiropractic building and can rent one small meeting room and/or one large party room equipped with a bar and seating for up to 100 guests. • TGK Automotive Specialists opened in June in the former Big O Tires building at 17900 Kenwood Trail. The business offers full-service tire and auto repair. • La Michoacana Purépecha held a grand opening celebration on June 15. The new ice cream shop is located in Walmart at 20710 Keokuk Avenue in the former Subway space. • Donut Star opened on June 19 at 7656 160th Street West, near Carbone's in the Lakeville Crossing shopping center. • A tenant improvement building permit was issued to Post Consumer Brands in May for their new Pet R&D pilot plant to be located at 21370 Heywood Ave. Post’s company portfolio includes Rachael Ray® Nutrish®, Kibbles ‘n Bits® and 9Lives® dog and cat food and the pilot plant will perform research and development for their pet food division. • Construction is nearing completion on the new 11,000-square-foot PetSuites Stay and Play located at 18440 Orchard Trail. When open, the business will offer pet boarding, daycare, grooming and training. • Remodel work is underway on the new UrgentVet location at 17698 Kenwood Trail in the Argonne Village shopping center. When open, the business will offer after-hours urgent care for cats and dogs. • The new 2,867 square foot Taco Bell is under construction at 20681 Keokuk Avenue, near Emagine Lakeville Theater. • The RL Cold building is under construction at 21700 Galway Lane, near Sweet Harvest Foods. The new 284,921-square-foot cold storage facility is anticipated to have up to three users when fully occupied. • Construction on Children's Minnesota Specialty Center’s expansion at 18432 Kenrick Avenue into the former Quiznos tenant space is underway. • Preliminary and final plat applications for Sundance Lakeville were reviewed during the June 20 Planning Commission meeting. The project proposes two commercial lots for medical office to be developed by Mark Davis, located north of 162nd Street and west of Buckhill Road. The proposed Sundance Lakeville medical buildings represent the first phase development proposed at this location on 18.75 acres. The second phase is proposed to include the development of 167 rental townhome units and nine single family homes north of the proposed medical clinic site. • A preliminary plat and PUD application for Kenyon Green were approved during the June 17 City Council meeting. The project proposes a 49-unit workforce apartment building and 15 rental townhomes located west of I-35, north of 185th Street and south of Keyon Avenue to be developed by Ron Clark Construction. • 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). The City has issued building permits with a total valuation of $109,830,841 through May. This compares to a total valuation of $135,114,518 for building permits issued through May of 2023. The City issued permits for 140 single-family homes through May with a total valuation of $42,814,000. This compares to 139 single-family home permits through May of 2023 with a total valuation of $40,164,000. The City has also issued 55 townhome permits with a total valuation of $13,061,000 through May, compared to 45 townhome permit with a total valuation of $9,339,000 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. • The City of Lakeville celebrated the grand re-opening of Antlers Park on May 22 with a ribbon cutting ceremony at the new John Hennen Pavilion. Antlers Park is located at 20141 Ipava Avenue and features new shelters for rent, an accessible playground and lake access, improved volleyball courts, a beautiful new pavilion building and much more. The May 22 event was also an opportunity to celebrate John Hennen, Parks & Recreation Director who retired on June 7. John worked for the City of Lakeville for 35 years and led the Parks & Recreation Department for the past nine years. He oversaw numerous park improvements during his tenure with the City – including the Antlers Park completion and Grand Prairie Park project kick off. Joe Masiarchin (former Lakeville Area Arts Center Manager) has been named the new Parks & Recreation Director. • Leadership Lakeville is accepting applications through June 30. The newly re-launched Chamber of Commerce program’s purpose is to cultivate local skilled professionals who can drive community growth. The Leadership Lakeville sessions will enhance participants’ leadership qualities, foster collaboration, innovation and effective decision-making. Selected applicants will be notified on July 12 and attend monthly classes from September 2024-May 2025. • 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.