HomeMy WebLinkAbout5a. January 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:January 28, 2025
Subject:Economic Development Report
This memo is intended to provide information on new and expanding businesses, proposed
development projects and economic development-related events.
Business & Development Updates
•Uptown Cheapskate held a ribbon cutting ceremony and grand opening on December
5. The upscale consignment clothing boutique is located at 7598 160th Street West.
•Viva Vitality hosted a ribbon cutting on December 12 at 20765 Holyoke Avenue. The
business provides a variety of therapies, including hormone, PRP regenerative, peptide
and more.
•The Farmer's Grandson Eatery opened in late December at 8333 210th Street West in
the Amoco gas station. The business serves a variety of foods, including breakfast
items, burgers and wraps.
•During the January 21 City Council meeting, a preliminary plat for one commercial lot
to be known as Kenrick Corner Second Addition was approved. The project proposes a
9,600-square-foot building with two commercial spaces to be located east of Kenrick
Avenue and north of 205th Street West (north of Porterhouse). Several Title 11 Zoning
Ordinance text amendments were also approved during this meeting.
•On January 23, the Planning Commission reviewed a preliminary and final plat
application submitted by Hat Trick Investments, LLC and Dakota Electric Association
for a two outlot subdivision to be known as Airlake DEA. A project application for one
of the outlots is anticipated to be reviewed at an upcoming Planning Commission
meeting in early 2025.
Under Construction
•Construction is underway on a 6,523-square-foot commercial office building located at
9057 203rd Street to be called Kenwood Commons. The facility will include three office
suites for lease.
•Work continues on Northland Collision’s 3,828-square-foot addition at 7430 160th Street
West.
•Construction is progressing on RL Cold’s 276,480-square-foot cold storage facility at
21700 Galway Lane.
•Swing Lab Performance Golf, located at 20721 Holyoke Avenue, was issued a building
permit to add a warming kitchen to allow the sale of food and alcoholic beverages in the
simulator suites. The business was approved for a liquor license in November.
•Midwest Ear, Nose & Throat Specialists have been issued a building permit for the tenant
finish at 11020 161st Street West.
•Children’s Dental Care was issued a building permit to construct a 2,571-square-foot
addition to its existing building at 17677 Cedar Avenue.
•Frandsen Bank & Trust has been issued a building permit to remodel its first floor.
•Tareen Dermatology was issued a building permit to remodel the office space at 17305
Cedar Avenue.
Building Permit Report
The City has issued building permits with a total valuation of $257,783,859 in 2024. This
compares to a total valuation of $257,120,894 in 2023.
The City issued permits for 285 single-family homes with a total valuation of $88,374,679,000.
This compares to 309 single-family home permits in 2023 with a total valuation of $90,919,000.
The City has also issued 149 townhome permits with a total valuation of $35,464,324, compared
to 152 townhome permits with a total valuation of $32,322,000 in 2023.
The City has issued one apartment permit (89 units) with a total valuation of $32,000,000 in
2024. This compares to nine apartment permits (252 units) with a total valuation of $21,600,000
in 2023.
Lakeville ranked #2 in Twin Cities total residential building permits and permitted units in 2024,
according to Housing First Minnesota.
Additional Highlights
•Lakeville was featured on Twin Cities Live television show on KSTP the week of
January 20-24. Lakeville businesses were highlighted daily in the studio and a live
broadcast was filmed at Babe’s Hometown Bar on January 24 from 3-4:30 p.m.
•Tina Goodroad, Community Development Director presented the 2024 Economic
Development Annual Report during the January 21 City Council meeting.
•Lakeville was well represented at the 2024 Dakota-Scott Workforce Development Board
Awards Celebration in December. Congratulations to Dalsin Industries for receiving the
Bob Killeen Award, Mark Reese of B-52 Burgers and Brew for receiving the Bob Klas Sr.
Entrepreneur Award, CW Metals for receiving the Employer of the Year for People with
Disabilities Award and Abbie Torbert of BTD Manufacturing for receiving the Willis E.
Branning Excellence in Youth Employment Services Award.
•Details of Lakeville’s Business Retention & Expansion (BRE) Program were finalized in
2024 and business visits will begin in earnest in February 2025.
Development News Resources
•Lakeville’s Interactive Development Map includes information on development projects.
•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.