HomeMy WebLinkAbout5.b. UpdatesA X"h- R%.,jSE lOU r 1 EXECUTIVE SUMMARY
PORT AUTHORITY
Port Authority Regular Meeting: February 19, 2013
AGENDA ITEM: Updates
AGENDA SECTION:
New Business
PREPARED BY: Kim Lindquist, Deputy Director
AGENDA NO. 5.b.
ATTACHMENTS: Commercial Vacancy, Restaurant Map
APPROVED BY:
RECOMMENDED ACTION: No Action Required
DISCUSSION
Since the Port Authority last met, there are several items of interest which have occurred.
Senior Housing:
The Mayor received a call, followed by an email from Doran, that they are not moving forward with the
senior housing project on the Steeple Center site. They updated the market study that the City initially
commissioned and found that the demand has decreased somewhat from the original city study. The
decreased demand coupled with the high amenity package Doran was desiring to provide meant that the
project was not economically feasible. Staff is reviewing other potential partners and will be providing
additional information to the Council when information is gathered.
Commercial Vacancy:
There have been some changes to the tenancy of the commercial space in the community. However, the
vacancy rate remains at 9% which is the same as last time presented in October 2012.
Coming Soon:
Two new food establishments are working their way to completion. Cherry Berry located at the mall
adjoining Cub Foods is beginning to receive final inspections. Hong Kong Bistro, located in the old Pizza
Hut building, will be receiving a building permit soon.
Restaurant Locations:
To complement the work of the Front Porch housed from the Steeple Center, the planning department
has compiled a map of the restaurants with addresses that are open in town. The map has been made
available to the volunteers at the Front Porch to give to the public and there is a large map on display.
Staff intends to update the map on an as needed basis.
Business Park Update:
Several buildings are up for sale or lease in the Rosemount Business Park. Cannon Equipment is
consolidating their business at the Cannon Falls facility and will be vacating their property here in
Rosemount. Based upon real estate listings along with Cannon Equipment there are three additional
building for sale: Preventive Care building at 15215 Boulder Trail, Commercial Millwork at 15051
Biscayne Avenue, and PCE Packaging at 2520 151" Street. The following lists the square footage of the
buildings in the Business Park:
Business Name
Address
Square Footage
MRCI
15191 Boulder Ct.
20,888
Proto Labs
15197 Boulder Trl
129,102
Cannon Equipment
15100 Business Pkwy.
108,858
Geometrix Co.
15124 Business Pkwy.
32,762
Preventive Care Inc.
15215 Boulder Trl.
23,080
Intellifeed
15223 Boulder Trl.
24,082
PCE Packaging
2520151st Ct. W.
10,016
Commercial Millwork Solutions
15051 Biscayne Ave
75,460
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