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Home My WebLink About4a. August 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:August 27, 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 •Antlers Ridge Final Plat was approved during the July 15 meeting, with the development contract approved on August 5. The project proposes the development of 34 twinhome lots located east of Kenrick Avenue and north of 205th Street West. •Niche Books held a ribbon cutting ceremony on July 17 at 20784 Holyoke Avenue, next to Tapestry Coffee in downtown Lakeville. •A groundbreaking ceremony was held on July 22 to kickoff construction for the 14,000- square-foot building for Midwest Ear, Nose & Throat Specialists. The new medical office will be located at 11020 161st Street West, near Bowlero. •Donut Star hosted a ribbon cutting ceremony on July 31 to celebrate its expansion into Lakeville. The business is located at 7656 160th Street West in the Lakeville Crossing Shopping Center. •In July, Northland Collision was issued a building permit to construct a 3,828-square- foot addition onto its existing building at 7430 160th Street West. •Uptown Cheapskate was also issued a building permit in July to remodel the tenant space at 7598 160th Street West in Lakeville Crossing Shopping Center. •Sundance Lakeville Second Addition preliminary plat and conditional use permit were approved during the August 5 meeting. The project proposes 13 townhome buildings with 167 dwelling units and nine single-family rental home lots located north of 162nd Street West (CSAH 46), west of Buck Hill Road and east of Kendale Avenue. •Lakeville 35 Logistics Center North Addition has submitted a preliminary plat and CUP application for a proposed 189,678-square-foot multi-tenant office/warehouse building to be located on County Road 70, just west of Lakeville South High School. •Kyiv Cakes held a ribbon cutting on August 23 at 17697 Kenwood Trail in the Southfork Shopping Center. The new Ukrainian bakery sells breakfast pastries, sweet treats and custom cakes. •PetSuites Stay and Play, located at 18440 Orchard Trail, is scheduled to open on August 28. The business offers pet boarding, daycare, grooming and training. Under Construction •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. Coming Soon •Estoria will be hosting a groundbreaking ceremony on September 4 to kickoff development of the 91-unit, 4-story senior housing co-op near Hosanna Church on 165th Street West. •Tina Goodroad will be speaking on a panel during the Minnesota Real Estate Journal Cannabis Real Estate Summit on September 6 from 8 a.m. – 12 p.m. at Golden Valley Country Club. •Leadership Lakeville kicks off on September 18 at the Emporium Room. Learn more about the re-launched program at lakevillechamber.org/leadership-lakeville/. Building Permit Report The City has issued building permits with a total valuation of $135,834,542 through July. This compares to a total valuation of $181,270,226 for building permits issued through July of 2023. The City issued permits for 187 single-family homes through July with a total valuation of $57,033,000. This compares to 198 single-family home permits through July of 2023 with a total valuation of $57,177,000. The City has also issued 64 townhome permits with a total valuation of $15,139,000 through July, compared to 93 townhome permit with a total valuation of $19,698,000 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 City of Lakeville launched a Residential Rental Registration Program in late 2023. The purpose of the ordinance is to build strong partnerships with rental property owners and create an opportunity for the City to provide educational materials to property owners and occupants of residential rental properties. During the August 5 meeting, an amendment was approved to clarify that an out-of-state rental property owner is required to register a Minnesota-based rental manager. More information about the program can be found at LakevilleBusiness.com/RentalRegistration. 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.