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Home My WebLink About6.c. Exec Sum ICSCEXECUTIVE SUMMARY Port Authority Regular Meeting: April 21, 2015 AGENDA SECTION: AGENDA ITEM: ICSC Update Old Business PREPARED BY: AGENDA NO. Kim Lindquist, Deputy Director6.c. ATTACHMENTS: APPROVED BY: None ddj RECOMMENDED ACTION: Information Item BACKGROUND Staff continues to work on preparation for ICSC which is held in early May. We have an additional appointment scheduled with Wal-Mart since last meeting. We are going to devote more time scheduling appointments now that it is getting closer to the conference date. We have also received several comments about not scheduling an appointment but stopping by the booth. We will schedule that into the day for those attending. We also have updated the brochure. The designer is out of town and needs to make some additional adjustments. I hope to have a new version to give the Port Authority at the Tuesday meeting. We will not have it before then. RECOMMENDATION Information Item MINNESOTA ROSEMOUNT - A GROWING CITY osemount, Minnesota is a high-growth community � M��r,.a�,o�is at.Pa�� where the number of retailing outlets hasn't kept pace � with the growth in rooftops. In the 2014 Community Survey, almost 50%of the residents desired more retail Mlnneapolis/St.Paul opporCunities in the community. �nternational Airport �' WHY COME TO ROSEMOUNT? • Population increased 64% between 2000 and 2015 to 23,044. �52 • Over 240,000 potential consumers live�vithin a � J M��Qopolts 5-mile radius of the City. ��' st.Pau� • The 7,213 total jobs in the City provide customers ', ri ; , ,,,nz Rosemount during daytime commercial hours. • The community is young, with 33% of the � population under 20 years of age. • More than half of the City is under 40 years of age. Rosemount is locatecl in the southeast portion of rh.e More than 300 businesses call Rosemount home. Minneapolis-St. Paul Metro Area in the center of one � of the fastestgrowing counties in t{�e State. • T�vo-thirds of the City remains undeveloped. BY THE NUMBERS,A GREAT MARKET � � � � � � � - T Population 23,044 3,154,469 �,303,925 Average hottsehold size 2.88 2.55 2.45 Median household income $80,841 $64,689 $�7,439 In labor force, 2009-11 76% 72.8% 71% Bachelors degree or higher 41.1% 38% 31.9% Average commute to work 2G6 minutes 29.7 mintttes 22.8 minutes SOURCES: U.S. Census Bureau, 2010 Census ar1dAmericar: C;ommurcity Survey,2009-11;Metropolita�z Council af the Twirz Cities 2013 FOR MORE INFORMATION CONTACT KIM LINDQUIST,COMMUNITY DEVELOPMENT DIRECTOR 651-322-2020•Kim.lindq�ist;�ci.rosemount.mn.us � ��.:. _-��. _ �.�r� �. .., ��.��.;,� ;,�..., a Akron Avenue & �'�`'��``�`^ � '�'"� "`��EN A"� County Road 42 +�rc,' ialF � � y.:..,.X�� „"'.,� �„%Y��+�"' ,, ��' � , .., s"- *�. _ � �'�� - .�,��, ,�t-�, • Commercial opportunity in new growth _.,._ � �•• �,�• '� � ` �,r.,�; �� '�.�` -��:�" _ 'Y..•-,': _ ��r- �"''�-�'" "�,. �,•�' ��- _ : .r'- y ?'�' °" neighborhood: approximately 55 acres are ��=:.�:..�,�- ,..�.. � ;.�� r� `��,;,�` ��,+,�- :. �'*_'. available for large and small commercial � . �., ..,. �,a+.�`"� �'`�� -,� ;� -�r` � w�"�` "'"�'s"�"�'~'� users located along two principal roadways. f'.'..�s•�,-�. �: ��y,� - . .�. - DR HORTON . � On the south, County Road 42 has 14,000 - `LENNAR� .N ,� � . . ti'� '�►- '�"'° : �� ADTs. �,.,.:...-°�,�„�r. � "�f,� _�: _ . '_ �, ..��, , .. . �.�.ir.M�.., "�'�� '.c. �'�:''�`�' - DAKOTA C ' Since 2011, 141 units constructed,bringing � ;;�" _. . .' ` _ Otitlot 1 �, � CDA new families with children into the area. " 20.t l aenz-- ' t'��l'ii� ~y� Additional residential growth potential with ^" ��'"� Outlotl � � up to 600 new units projected in the district. � '` 28.ST sens x`a s+��, . . x:...+., .,;IC;�+ .. : � ' �-.,�_ '"� . ��, Outiot 0 ,.�,,, • Situaced across from Dakota County ' � _ :.�. ......w,. .`:I �''�3 o.as,en: , "�� _,.�'�. ,are�'�r'-: _ � , j�irr Technical College with approximately 4,000 � ' "'ti °_..,�.r�.= � �x\`�, \� ' t"�"� _ �� ,� � �,:t ,� ,��,,,,;_M1` students and from University of Miniiesota a , �� "�'� . �'�.�Oakota Co�u"�nt��Tech`�cal Center��,t;,�, land,which is planned for up to 30,000 new ;.�'"��"�j�"`��'��+- ,� '''� ��'�;ti- ��' residents in the next 25-30 years. � •�' r t ,�. ',{� ~ `"` �� Y$m T� ��` �� ` •' �ontact Jomes McCafrey,612-341-4444, ��1 - '��"� � '� � `' �- `S"-�='i�� - °`lti+ti� james.mccafrey@dtz.com � T° _ � ,�� Highway 3 & � _- ��1 � �r � .�-.�� `� t_�� _, , � County Road 42 ; � �% . ,� �: i".:'� i � :''� � � � '�`�� - • Locaced at the corner of Hwy 3 (13,000 • - � . , �: � !: �\��'..�- 'a,_ �;� � � ' -��p'' ~ � " ADT) and County Road 42 (14,000 ADT), s 11:��_J ��.'� i , � '' � \,.� �,'`��^�r� � "�� -''" the 30-acre site provides good visibility to ,�� 1 ' '�. � � . � �-., ' {~�; i � � ,\'�,1- � : � residents and commuters. � !_��_:• _ >\ �.� � '1�__ � �`. ti � "` �,y,-0,,,,r,�,,,,�.,,,�,,,,w.� ,— . . � • _ �� • City installed and financed frontage road .� ' `I�� <�, '° _LLr_/_r�A� � / � i�� and utilities provide access for all sites at a K�. �: � ,. . . i� � ,. - � , -� ' �' �, "`°��,.. �`� /f,-':_� . __ �.i ��1 lower cost than typical. , � �'� -,�� ',y' � " a i ��: • Inaugural project: 10,000 square foot Q' ,� ,�� s � � � �,: � `� '` � � �� :�• �_�� t � Anytime Fitiiess. . �- :`��. ' ,✓ "' "''�`��`��"'�"" "" t '�^...1 ' • Several available sites in varying sizes. Most . .-: f.� �,� , `�" o ' ',�� .�, � ,��; _ffi �n�,.,4 , � � � � lots ranging in size from 1-2 acres up to 15 �� ;� � �� ___�� - _� acres, accommodating large and small users. ; __—_ _ � . ; " ' _-�!� (`.� _ � ' q —. y._ �� . � _ Contact Bruce Rydeen, ` - �,.-- . _.. _ 952-469-9444, i f � � �''�'t-• . .'��'�� , -�. BruceR I CERRON corn .� �-� ��` �} .Ty 1�� ' -�;�� V "Y � , , i 4� =-_____ � _�� ` . . , , ` � fy \ •�� i ' �� ! { I � AVAILABLE RETAIL SPACE IN ROSEMOUNT Waterford Commons—This new mixed-use project is located in the "'� 'S heart of the City along Hwy 3 with 14,000 ADT. Total commercial space 3 � ■af ; � ± is 13,000 square feet. Upstairs 106 households, plus nearby high density " .� �' � � � ;,� residential within easy walk to building. Attractive street frontage space and ;�� ^'� interior professional of�ice space available. c � � eonracr:KI►Sten Davison 651-322-11170�wa�erfordleas�ng,.stonef�rrd yecommunriies.com Rosemount Village—With Cub Foods as anchor tenant this mall has high customer traffic and good visibility to main arterial road in � - community, County Road 42, 18,000 ADT.Tenant space available, ample --� � �,�, �,� parking for every tenant. Mall already includes Verizon Wireless, _; � „�'�� Little Caesars Pizza, GNC, Caribou Coffee, Cub Liquor. �¢/�� . .r..��+" ^' �� . ' , y'e'� -'.;��1 A;'-�.'.«"'.� '� "'� Contact:JimStimmler952-948-9417orjstimmlerwkarealty.com � Rosemount Crossing—Located at the busiest intersection in town � (Hwy 3 14>000 ADT and County Road 42 18,000 ADT) this mixed � , � _ i,;,,k� � : commercial project has available space for in-line or endcap tenant. Project � `_ _ �' � �' ` �' anchored by ALDI and Rudy's Redeye Grill with other high traflic tenants a�a� � }� :� 3 �`':' � t�� :,+ '�� such as S rint Starbucks Cot�ee Fantastic Sams and Eddie Chan 's. .�, I�� P > > , g � 1 +��.. Contact:Charlie Hexum 952-563-6605 orchexum Qmidamericagrp.com Market Square/Chippendale Center—These two mulri-tenant centers located in the same development provide leasing and new construction opportunities.An approximate 30,000 square foot pad allows for 5,000 ±�, _ --. square foot building in front parking lot. Major tenants in the community Y � ( ��.o, �-�'. commercial area include Burger King, McDonalds, Holiday Gas Station, �---= — ��'� liquor store, and local hockey rink. �� ""� Confact:MarkRobinson952-563-6664ormrobrnsonc;mrdamericagrp,com Celtle Crossing—A multi-phase center that has many long-term tenants -..� � including Subway, Papa Murphy's, Nivala Salon, and Rosemount�ye Clinic. � ,, �f �,} Vt � Within commercial corridor that contains Cub Foods and Walgreens. ''$ � Alon Count Road 42 with 18,000 ADT. Hi h visibilit on corner arcel. 5�-=�T ;� ... '�a .;.: '- g Y g Y P ��=�i��;:�� r „-�� _�� Confacf:EddieRymer651-226-7835orEdclie�marketplacecommercial.com Rosemount Village Center—A multi-tenant center located in the center r of Rosemount's commercial corridor. This 12,000 square foot center has _ � -� _ - � in-line space available for small and larger retail tenants. Existing tenants '� ��t► include Great Clips and China Wok restaurant. Surrounding development �-�'� : i:;�� `• includes Cub Foods and Fairview Medical Clinic. Contact:Zachary Stensland 952-436-0745 or zach aupland.com REDEVELOPMENT OPPORTUNITY �, t � � �'�r� � � „ � his City-owned J �.� ��. T , .��s � : _ _ � �;,; - �, _KL•owcr�l 47th�Street�W�� properry was , . , �,..{ , : .. _ . ;�.-�.._. ..M. � 1 �' '� ' �� j purchased to jump start ��`� , �"� . � � ' . , ��,: . ,�_��_:;-� � " redevelopment in the ,� � ' ° � r��;.r�,-.. � , s� � 1 �'.i �• i h historic Downtown.A 60- '�� dw�- �f�3 � 4 � � � � �,�:�'i ��4.��-, Ylanned ' unit senior housing rental ` �-_ ' � � Seruor i RETAIL DEMAND '�'�i,. � . Housing ' project will be completed IN ROSEMOUNT ',� � � by the end of 2015>and < � 12G� ��.� , that coupled with the 105- `As of 201U, Rosemount and ;;,., i the surrounding comntunities ��"` � � unit apartment buitding �• a� contained 73,402 people and � x3 "�� • � � � across the street creates a 27,254 households. From � "'� 2000 to 2010, the population '� ' �-�,�` � �� significant neighborhood �:�. 1 3 �.� increased 18.8% while � , ` • � customer base.Visibility ,� -- � � �? the number of households •�, `1�i� , ,` p- is great on a scate highway ca' expanded by 26.3%. i � ,;��' .��" , ; < ,,'�.*; with ADTs of 14,000.The Rosemount alone gained ' �` � ' ''`'� IZ'� ►-� �s w property is shovel ready 7,255 people and 2>845 %"�'`�t.:_� , �';' households during this '�Q ' � 2 I,c� with new utilities and • '�� . period:' '�=� � , � '� � � � access already installed. '�� '�"�'� � � � �ontact:Kim Lindquist, 1 � � ! � � t z3' ��;� —A Market Stu�ly for �`'� � , �, 651-322-2020 or South Urba�� Guuway Corridor y '':x � : �r '�'-` ' in Rosemount, MN, � � ,.,s,� �" � � kimJindquist@ Maxfieltl R�search Inc., 2014. �� . � ci.rosemount.mn.us. ��' � . .. . ... r.: � "�� y. �'l s .......,._. « . ... . . � � �� ENT � OPM � COMMUNITY D'EVEL 287 5 145th Street West Kin► Lindquist Rozemounc,MN55068-0997 651-423-4q11 Main tommunitYDevelopn+entDirector 65j423nz�9TDD/TTY 651-322-2020(Off�cel 651-423-�424 Fax kim,lindqu9stC�d.rosemou n�mn.0 s CQII US tOC�Q)/.�