HomeMy WebLinkAbout4b. May Economic Development Report
City 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 27, 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
A groundbreaking ceremony was held on May 6 to kickoff construction of the Lakeville
35 Logistics Center. The 189,678-square-foot spec industrial building will be located
northeast of Juniper Way and south of Trinity Church.
Tareen Dermatology hosted a ribbon cutting ceremony on May 7 to celebrate opening its
Lakeville location at 17305 Cedar Avenue, Suite 230. This is the business’s ninth location.
Midwest Ear, Nose & Throat Specialists’ has opened at 11020 161 st Street West.
During the May 19 City Council meeting:
o A development contract and stormwater maintenance agreement were approved
for Kenrick Corner Second Addition. The project proposed a 9,600-square-foot
building with two retail tenant spaces for lease.
o A preliminary plat application for Heritage Commons 9th Addition was approved
for the property located north of 202nd Street, adjacent to Idealic Avenue. The
project proposed two commercial lots and the construction of a 3,395-square-foot
Chase Bank location on the west parcel.
On May 22, the Dakota Electric Association Board of Directors reviewed its proposed
plan to construct a new headquarters facility in Lakeville
Under Construction
Construction is progressing on the 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 continues on Children’s Dental Care’s 2,571-square-foot addition to its
existing building at 17677 Cedar Avenue.
Building Permit Report
The City has issued building permits with a total valuation of $108,644,234 through April. This
compares to a total valuation of $58,629,199 for building permits issued through April 2024.
The City issued permits for 86 single-family homes through April with a total valuation of
$30,116,542. This compares to 108 single-family home permits through April 2024 with a total
valuation of $32,599,000.
The City has also issued 73 townhome permits with a total valuation of $17,885,123 through April,
compared to 44 townhome permits with a total valuation of $10,280,000 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.
Additional Highlights
The annual Lakeville Art Crawl was held on May 10 in downtown Lakeville. The event
featured 30 artists showcasing their work within the thriving businesses of the city’s
historic downtown.
The first annual Lakeville Food Truck Festival took place on May 17 in the Lakeville Area
Arts Center parking lot. The festival featured 36 food trucks, live music and family
activities from 11 a.m. – 8 p.m.
Community Development staff recently issued a Request for Proposals (RFP) for the
Cedar Avenue Corridor Land Use and Market Analysis. The study will evaluate current
land use and support the development of a small area plan for the corridor between 185th
and 200th Streets. The goal is to identify the highest and best use of the area in
preparation for updates to the 2050 Comprehensive Plan.
Leadership Lakeville 2024-25 Cohort completed their program on May 21. The last
session included a bus tour of City projects and developments, as well as a graduation
ceremony at the John Hennen Pavilion. Applications for the 2025-26 Cohort are available
now at LakevilleChamber.org.
Community Development staff hosted a booth to promote Lakeville at the Minnesota
Real Estate Journal’s Southeast Metro Development Summit on May 22. Community
Development Director Tina Goodroad moderated a panel discussion about experiential
retail that featured B-52 Burgers & Brew and Dakota Curling Club.
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.