HomeMy WebLinkAbout5a. June 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:June 24, 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 new restaurant has recently opened in the Crossroads of Lakeville shopping center.
Sala Thai Kitchen is located at 17671 Glasgow Avenue and serves authentic Thai
cuisine for dine-in or carry-out.
•Board & Brush held a ribbon cutting ceremony on June 10 to celebrate its new
ownership. The business is located at 20770 Holyoke Avenue in downtown Lakeville.
•Midwest Ear, Nose & Throat Specialists held an open house event on June 18 to
celebrate their new location at 11020 161st Street West.
•During the June 16 City Council meeting, the City of Lakeville entered into a
professional services agreement with TKDA to prepare the Cedar Avenue Corridor
Land Use and Market Analysis. The outcome will help update land use designations
and guide future development in the absence of planned transit service. The study may
also result in a small area plan that supports the City’s broader 2050 planning efforts
and will be partially funded using CDBG dollars.
•A groundbreaking ceremony to kick off construction of the Dakota Electric Association
HQ project is scheduled to take place on June 26.
Under Construction
•Construction is underway on the Lakeville 35 Logistics Center. The 189,678-square-foot
spec industrial building will be located at 21300 Juniper Way.
•Construction is nearing completion 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 $126,886,825 through May. This
compares to a total valuation of $109,830,841 for building permits issued through May 2024.
The City issued permits for 99 single-family homes through May with a total valuation of
$34,706,028. This compares to 140 single-family home permits through May 2024 with a total
valuation of $42,814,000.
The City has also issued 80 townhome permits with a total valuation of $19,882,825 through
May, compared to 55 townhome permits with a total valuation of $13,061,000 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
•Leadership Lakeville applications for the 2025-26 Cohort are available now at
LakevilleChamber.org.
•A Federal Worker Adjustment and Retraining Notification Act letter has been received
from J & E Companies informing the City of its decision to permanently close the
Lakeville facility and lay off approximately 45 employees on June 2, 2025. The
employees affected by the layoff are eligible to receive employment assistance from
MN’s CareerForce offices.
•Community Development staff are working with the Communications team to refresh
the look of LakevilleBusiness.com. The new look will be live later this summer.
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.