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Home My WebLink About5a. April 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:April 22, 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 •During the March 17 meeting: o A final plat application and development contract were approved for Airlake DEA. The plat consists of two outlots and the dedication of right-of-way for the extension of 222nd Street. The property is located east of Cedar Avenue and north of 225th Street and is the proposed site of Airlake DEA 2nd Addition, which includes a 176,685-square-foot office, warehouse and storage building along with parking, outdoor storage and stormwater improvements for Dakota Electric Association's proposed new headquarters. o A preliminary plat application and conditional use permit were approved for Marketplace at Cedar. The preliminary plat includes nine commercial lots and five outlots to be located at the southeast quadrant of Cedar Avenue and 179th Street (south of Crossroads of Lakeville shopping center). •The Salvation Army Thrift Store has opened at 17625 Kenrick Avenue and UrgentVet has opened at 17698 Kenwood Trail, Downtown Bicycles is coming soon to Kenwood Commons, located at 9057 203rd Street West. •The Farmer's Cellar has completed construction in the adjoining tenant space at 8333 210th Street West (Amoco gas station) and the speakeasy is anticipated to fully open this spring. •The Minnesota Real Estate Journal has announced its 2025 award category finalists for its upcoming awards ceremony on May 1, 2025. Lakeville project finalists include Government/Community Facility - Twin Cities (Antlers Park Redevelopment), Industrial- South (Lakeville Industrial, Sweet Harvest Foods) and Medical Property (Lakeville Specialty Center). Under Construction •Construction is underway on an 8,337-square-foot commercial office building located at 9057 203rd Street West to be called Kenwood Commons. The facility will include three office suites for lease and two have been identified as Downtown Bicycles and State Farm Insurance. •Construction continues on RL Cold’s 276,480-square-foot cold storage facility at 21700 Galway Lane. •Construction is progressing on Midwest Ear, Nose & Throat Specialists’ new 14,000- square-foot medical office building at 11020 161st Street West. •Construction is underway on Children’s Dental Care’s 2,571-square-foot addition to its existing building at 17677 Cedar Avenue. The City has issued building permits with a total valuation of $53,556,945 through March. This compares to a total valuation of $42,278,144 for building permits issued through March 2024. The City issued permits for 58 single-family homes through March with a total valuation of $20,542,539. This compares to 83 single-family home permits through March 2024 with a total valuation of $24,843,000. The City has also issued 59 townhome permits with a total valuation of $14,815,996 through March, compared to 24 townhome permits with a total valuation of $5,850,000 during the same period in 2024. Lakeville is currently ranked #1 in year-to-date Twin Cities residential building permits, according to Housing First Minnesota. •The 2025 State of the City was presented by Mayor Luke Hellier and Community Development Director Tina Goodroad on April 9 at Brianno’s Chart House. The StoryMap is available at LakevilleBusiness.com. •EDC Chair Don Seiler spoke to the Leadership Lakeville class during its April 16 session in City Hall. All the City’s commission/committee chairs were present at the meeting to share information about the work of their groups and to encourage the students to consider applying for 2026 appointments. City Administrator Justin Miller and City Council members also spoke to the group and shared information about the City’s budget and the responsibilities of serving on the Council. •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.