HomeMy WebLinkAbout5b. August Economic Development Report
Memorandum
To: Economic Development Commission
From: Kati Bachmayer, Economic Development Manager
Copy: Tina Goodroad, Community Development Director
Justin Miller, City Administrator
Date: August 26, 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
• Downtown Bicycles held a ribbon cutting celebration on July 22 at its new Lakeville
location in Kenwood Commons. The business can be found at 9057 203rd Street West
and carries a wide variety of bikes, as well as bike parts, accessories and offers repair
services.
• Wild Things Indoor Playground held a groundbreaking ceremony on July 25 to kick off
construction for their new building to be constructed as part of the Kenrick Corner
Second Addition plat. When complete, the business will be located immediately north
of Porterhouse, off Kenrick Avenue.
• During the August 4 City Council meeting, the City Council approved a final plat for
Heritage Commons 9th Addition. The project proposes the construction of a 3,395-
square-foot Chase Bank building and one outlot for future commercial development.
• Donut Star held a ribbon cutting ceremony on August 21 to celebrate its new
ownership.
Under Construction
• Life Time has been issued a building permit to remodel and refresh through the facility.
• Legit Cannabis has been issued a building permit to remodel the former Mattress
Superstore retail space.
• Footing and foundation work is underway on Dakota Electric Association’s new HQ
site to be located north of 225th Street and east of Cedar Avenue.
• Great progress has been made on the construction of the Lakeville 35 Logistics Center.
The 189,678-square-foot spec industrial building will be located at 21300 Juniper Way.
• 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 $173,415,288 through July. This
compares to a total valuation of $135,834,542 for building permits issued through July 2024.
The City issued permits for 129 single-family homes through July with a total valuation of
$44,813,908. This compares to 187 single-family home permits through July 2024 with a total
valuation of $57,033,000.
The City has also issued 138 townhome permits with a total valuation of $36,300,817 through
July, compared to 64 townhome permits with a total valuation of $15,139,000 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.
• LakevilleBusiness.com launched its refreshed look in late July.
• The City Council approved amendments to Title 10 (Subdivisions) and 11 (Zoning
Ordinance) of the City Code during the August meetings, including residential
construction flexibility and tree preservation.
• Four Business Retention & Expansion visits were completed in August.
• Leadership Lakeville 2025-26 cohort will begin on September 17 in Council Chambers.
This year’s class has 20 participants.
• 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.