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HomeMy WebLinkAbout4.b. Project Updates EXECUTIVE SUMMARY Port Authority Meeting Date: December 15, 2020 AGENDA ITEM : Project Update AGENDA SECTION: Old Business PREPARED BY: Eric Van Oss, Economic Development Coordinator AGENDA NO. 4.b. ATTACHMENTS: Hotel Flyer , Star Tribune Article. APPROVED BY: KL RECOMMENDED ACTION: Information Item. ISSUE Previous discussions with the Council and Port Authority indicated a desire for more information regarding completion of workplan activities. The following highlights some of the project and economic development activities since the last Port Authority meeting. COMMERCIAL The Morrison: First floor framing is in process. Carousel Way: The tenant buildout for the Lorenz Clinic has been completed and a Certificate of Occupancy was issued the week of December 7th. Brewery: Staff has the assessment agreement schedule for the City Council meeting on December 15, 2020. Mr. Schmitz indicated he is hoping to file the lot split with the County before the first of the year. Staff has restarted talks from 2019 with several other brewing companies that have potential 2021 or 2022 expansion plans. The Clover : In November the building permit was issued, and alterations are in progress. No additional information available. Israelson property: Mr. Israelson’s application was approved by the City Council at the October 5, meeting. This week staff received a flyer advertising the sale of the approved hotel site. The flyer is attached for members information. Merchants Bank site : No new information at this time. Akron Ave: Staff continues to work with an operational partner on this project, with requested actions by the City anticipated in early 2021. UMore Residential: A presentation by Maplewood Development occurred on December 1, 2020. Staff continues to work with the developer and other necessary partners to work out utility issues. Super America: The court date for this property is December 4th, which may include a settlement. The owner is working with Wells Fargo and the SBA to sell the property to a group that would reopen the location as a store with gas (not a Speedway). DCTC: Work on the Vet Clinic facility continues. The framing inspection has been completed. Taco Johns: A permit was issued for an interior remodel. McDonalds: Staff is reviewing plans for an interior remodel. KJ Walk apartments: The Rosewood Crossing Caretakers residence has been submitted for review. Style Niche: Style Niche expanded their footprint in the Waterford to include the adjacent storefront. Ten Tiny Toes Photography: This business will be closing in January and the Downtown space is being advertised for lease. Triple AAA Auto: Work has begun on alterations to the main office area. Dental Clinic: Staff received interest in a space or lot for a potential dental clinic. INDUSTRIAL UMore Industrial site: There is no new information. Biscayne Business Park/ Cerron Commercial Properties: There is a proposed tenant for the first spec building, Epic Wraps, a laser printing company . No building plans have been submitted for interior work at this time. Staff has been contacted by three different businesses expressing interest in the first spec building. There has been some discussion with the property owner to begin construction on another building due to recent interests. Rosemount Business Park: Staff has continued to inquiries regarding sites in the Business Park and expects to receive updates on previously submitted RFIs later in January. Opus Site: No new information. OTHER Shop Local: The Shop Local campaign continues into December. Five hundred of the stuffed bags were handed out at three popup events in November. The remaining 400 bags were disturbed to retailers to be handed out with purchases. Bags were given to Fluegel’s, Ace Hardware, Rosemount Floral Shop, Style Niche, Chuck and Don’s, and Top Ten Liquors. Over the next few weeks, staff will highlight local business and their holiday specials on social media via “Lucky the Leprechaun.” Overall the event was well received by both businesses and residents, who have indicated they would like to see this become an annual effort. Morrison Grants: The City submitted approved expenses for redevelopment activities related to the Morrison project to the Minnesota Department of Economic Development for $70,232. Workforce Award: The City nominated Las Tortillas for the Dakota-Scott Legislative and Employer Awards and they were selected for the Bob Killen Award. The virtual ceremony took place on December 4th. Building Permits: Rosemount had a strong home building month in November and was highlighted in the Star Tribune (attached). Cities in the metro issued permits for 701 single-family houses, up 9% from November 2019. The November activity pushes single-family permits 0.5% ahead of last year for the year to date. In terms of total housing units added, Rosemount ranked 3rd in November only behind Maple Grove and Minneapolis. ROSEWOOD COMMONS LAND SITE ROSEMOUNT, MN 55068 FOR SALE | HOTEL LAND SITE 1.69 acres Subject Property ROSEWOOD COMMONS LAND SITE ROSEMOUNT, MN 55068 CERRON Commercial Properties, LLC 21476 Grenada Avenue Lakeville, MN 55044 www.CERRON.com ■ PROPERTY HIGHLIGHTS ■ Approx. 1.69 Acres (73,609 SF) ■ Rosewood Commons ■ Ideal site to accommodate hotel ■ Approved for 79 rooms by City of Rosemount ■ Listing Price: $985,000 FOR SALE | LAND SITE FOR HOTEL ROSEWOOD COMMONS LAND SITE ROSEMOUNT, MN 55068 ■ COMMUNITY OF ROSEMOUNT ■ The City of Rosemount is 15 miles south of the Twin Cities metropolitan area. With land area of nearly 36 square miles, Rosemount residents enjoy the advantages of living in a community with both a small town and large metropolitan city atmospheres. Four major highways link Rosemount to Minne- apolis and St. Paul. Unusual for a city of its size, Rosemount combines industry, agriculture, and agri- cultural research with a rapidly growing residential community providing an excellent environment in which to live and work. A strong, united business community has been achieved in Rosemount through the activity and cooperation of local business, the City, the chamber of commerce, and other civic organizations. More than 500 acres of industrial - and commercial-zoned land have been re- served for development in Rosemount. ■ DEMOGRAPHICS: 1 Mile 3 Mile 5 Mile Population 4,145 27,152 45,854 Median HH Income $77,878 $87,159 $96,519 Avg HH Income $78,414 $90,670 $98,391 Full demographic report available upon request. ■ Data source: Catylist Research, 2020. SUMMARY ■ TRAFFIC COUNTS: ■ 14,900 vpd @ 150th St W & Robert Trl S ■ 13,300 vpd @ Robert Trl S & 150th St W ■ 19,500 vpd @ 150th St W & Canada Ave W ROSEWOOD COMMONS LAND SITE ROSEMOUNT, MN 55068 ROSEWOOD COMMONS LAND SITE ROSEMOUNT, MN 55068 AREA HOTELS See supplemental esri Business Summary Report which shows details of Gap for Hotels and Lodging in this area. Business Summary KJ Walk - Hotel Land Site Prepared by Esri Rosemount, Minnesota Latitude: 44.73396 Rings: 1, 3, 5 mile radii Longitude: -93.12409 Data for all businesses in area 1 mile 3 miles 5 miles Total Businesses:285 651 1,962 Total Employees:3,646 8,550 27,490 Total Residential Population:6,883 39,790 112,353 Employee/Residential Population Ratio (per 100 Residents)53 21 24 Businesses Employees Businesses Employees Businesses Employees by SIC Codes Number Percent Number Percent Number Percent Number Percent Number Percent Number Percent Agriculture & Mining 8 2.8%60 1.6%17 2.6%119 1.4%50 2.5%373 1.4% Construction 16 5.6%202 5.5%50 7.7%372 4.4%157 8.0%974 3.5% Manufacturing 8 2.8%521 14.3%22 3.4%1,195 14.0%44 2.2%1,656 6.0% Transportation 6 2.1%180 4.9%17 2.6%421 4.9%50 2.5%801 2.9% Communication 3 1.1%13 0.4%5 0.8%23 0.3%17 0.9%100 0.4% Utility 1 0.4%3 0.1%2 0.3%7 0.1%4 0.2%40 0.1% Wholesale Trade 5 1.8%57 1.6%15 2.3%142 1.7%50 2.5%473 1.7% Retail Trade Summary 72 25.3%896 24.6%129 19.8%1,750 20.5%409 20.8%8,396 30.5% Home Improvement 3 1.1%11 0.3%5 0.8%26 0.3%28 1.4%512 1.9% General Merchandise Stores 1 0.4%10 0.3%2 0.3%162 1.9%11 0.6%1,133 4.1% Food Stores 8 2.8%195 5.3%14 2.2%412 4.8%50 2.5%1,376 5.0% Auto Dealers, Gas Stations, Auto Aftermarket 6 2.1%40 1.1%10 1.5%60 0.7%33 1.7%1,022 3.7% Apparel & Accessory Stores 2 0.7%5 0.1%5 0.8%12 0.1%16 0.8%75 0.3% Furniture & Home Furnishings 1 0.4%5 0.1%3 0.5%15 0.2%24 1.2%275 1.0% Eating & Drinking Places 31 10.9%485 13.3%54 8.3%794 9.3%144 7.3%2,986 10.9% Miscellaneous Retail 20 7.0%145 4.0%36 5.5%270 3.2%104 5.3%1,018 3.7% Finance, Insurance, Real Estate Summary 27 9.5%117 3.2%55 8.4%310 3.6%198 10.1%1,787 6.5% Banks, Savings & Lending Institutions 5 1.8%47 1.3%12 1.8%116 1.4%40 2.0%746 2.7% Securities Brokers 4 1.4%9 0.2%7 1.1%17 0.2%31 1.6%103 0.4% Insurance Carriers & Agents 6 2.1%19 0.5%16 2.5%45 0.5%60 3.1%197 0.7% Real Estate, Holding, Other Investment Offices 12 4.2%42 1.2%20 3.1%132 1.5%67 3.4%741 2.7% Services Summary 112 39.3%1,438 39.4%272 41.8%4,017 47.0%781 39.8%10,933 39.8% Hotels & Lodging 0 0.0%0 0.0%0 0.0%0 0.0%5 0.3%64 0.2% Automotive Services 8 2.8%39 1.1%13 2.0%63 0.7%49 2.5%997 3.6% Motion Pictures & Amusements 11 3.9%100 2.7%27 4.1%254 3.0%78 4.0%744 2.7% Health Services 17 6.0%112 3.1%38 5.8%250 2.9%118 6.0%1,337 4.9% Legal Services 2 0.7%6 0.2%5 0.8%15 0.2%22 1.1%67 0.2% Education Institutions & Libraries 12 4.2%622 17.1%33 5.1%1,962 22.9%69 3.5%3,906 14.2% Other Services 61 21.4%559 15.3%156 24.0%1,472 17.2%440 22.4%3,817 13.9% Government 8 2.8%154 4.2%11 1.7%170 2.0%43 2.2%1,893 6.9% Unclassified Establishments 21 7.4%5 0.1%56 8.6%25 0.3%158 8.1%62 0.2% Totals 285 100.0%3,646 100.0%651 100.0%8,550 100.0%1,962 100.0%27,490 100.0% Source: Copyright 2020 Infogroup, Inc. All rights reserved. Esri Total Residential Population forecasts for 2020. Date Note: Data on the Business Summary report is calculated using Esri’s Data allocation method which uses census block groups to allocate business summary data to custom areas. November 12, 2020 ©2020 Esri Page 1 of 2 Business Summary KJ Walk - Hotel Land Site Prepared by Esri Rosemount, Minnesota Latitude: 44.73396 Rings: 1, 3, 5 mile radii Longitude: -93.12409 Businesses Employees Businesses Employees Businesses Employees by NAICS Codes Number Percent Number Percent Number Percent Number Percent Number Percent Number Percent Agriculture, Forestry, Fishing & Hunting 0 0.0%0 0.0%2 0.3%4 0.0%7 0.4%20 0.1% Mining 0 0.0%0 0.0%0 0.0%0 0.0%0 0.0%0 0.0% Utilities 1 0.4%0 0.0%1 0.2%0 0.0%2 0.1%4 0.0% Construction 18 6.3%264 7.2%53 8.1%494 5.8%164 8.4%1,130 4.1% Manufacturing 9 3.2%534 14.6%24 3.7%1,211 14.2%54 2.8%1,721 6.3% Wholesale Trade 5 1.8%57 1.6%15 2.3%142 1.7%50 2.5%473 1.7% Retail Trade 40 14.0%403 11.1%72 11.1%936 10.9%252 12.8%5,321 19.4% Motor Vehicle & Parts Dealers 5 1.8%30 0.8%8 1.2%45 0.5%28 1.4%970 3.5% Furniture & Home Furnishings Stores 0 0.0%0 0.0%0 0.0%0 0.0%12 0.6%72 0.3% Electronics & Appliance Stores 0 0.0%0 0.0%1 0.2%5 0.1%8 0.4%185 0.7% Bldg Material & Garden Equipment & Supplies Dealers 3 1.1%11 0.3%4 0.6%23 0.3%26 1.3%507 1.8% Food & Beverage Stores 11 3.9%211 5.8%17 2.6%433 5.1%51 2.6%1,382 5.0% Health & Personal Care Stores 3 1.1%78 2.1%9 1.4%147 1.7%29 1.5%394 1.4% Gasoline Stations 1 0.4%10 0.3%2 0.3%15 0.2%5 0.3%51 0.2% Clothing & Clothing Accessories Stores 2 0.7%5 0.1%6 0.9%13 0.2%19 1.0%80 0.3% Sport Goods, Hobby, Book, & Music Stores 5 1.8%23 0.6%6 0.9%27 0.3%19 1.0%229 0.8% General Merchandise Stores 1 0.4%10 0.3%2 0.3%162 1.9%11 0.6%1,133 4.1% Miscellaneous Store Retailers 7 2.5%26 0.7%12 1.8%61 0.7%33 1.7%304 1.1% Nonstore Retailers 3 1.1%0 0.0%5 0.8%4 0.0%12 0.6%12 0.0% Transportation & Warehousing 4 1.4%177 4.9%14 2.2%414 4.8%38 1.9%754 2.7% Information 8 2.8%75 2.1%15 2.3%124 1.5%40 2.0%390 1.4% Finance & Insurance 15 5.3%75 2.1%35 5.4%178 2.1%131 6.7%1,046 3.8% Central Bank/Credit Intermediation & Related Activities 5 1.8%47 1.3%12 1.8%116 1.4%39 2.0%740 2.7% Securities, Commodity Contracts & Other Financial Investments & Other Related Activities 4 1.4%9 0.2%7 1.1%17 0.2%32 1.6%109 0.4% Insurance Carriers & Related Activities; Funds, Trusts & Other Financial Vehicles 6 2.1%19 0.5%16 2.5%45 0.5%60 3.1%197 0.7% Real Estate, Rental & Leasing 14 4.9%52 1.4%22 3.4%82 1.0%80 4.1%702 2.6% Professional, Scientific & Tech Services 18 6.3%93 2.6%59 9.1%253 3.0%188 9.6%967 3.5% Legal Services 2 0.7%6 0.2%7 1.1%27 0.3%28 1.4%104 0.4% Management of Companies & Enterprises 2 0.7%4 0.1%4 0.6%9 0.1%5 0.3%13 0.0% Administrative & Support & Waste Management & Remediation Services 10 3.5%108 3.0%28 4.3%415 4.9%72 3.7%633 2.3% Educational Services 14 4.9%632 17.3%38 5.8%2,005 23.5%83 4.2%3,935 14.3% Health Care & Social Assistance 25 8.8%218 6.0%57 8.8%495 5.8%185 9.4%2,220 8.1% Arts, Entertainment & Recreation 6 2.1%44 1.2%17 2.6%159 1.9%49 2.5%821 3.0% Accommodation & Food Services 31 10.9%485 13.3%54 8.3%794 9.3%150 7.6%3,048 11.1% Accommodation 0 0.0%0 0.0%0 0.0%0 0.0%5 0.3%64 0.2% Food Services & Drinking Places 31 10.9%485 13.3%54 8.3%794 9.3%144 7.3%2,984 10.9% Other Services (except Public Administration)37 13.0%267 7.3%75 11.5%641 7.5%211 10.8%2,341 8.5% Automotive Repair & Maintenance 8 2.8%39 1.1%13 2.0%62 0.7%44 2.2%969 3.5% Public Administration 8 2.8%154 4.2%11 1.7%170 2.0%43 2.2%1,893 6.9% Unclassified Establishments 21 7.4%5 0.1%56 8.6%25 0.3%157 8.0%58 0.2% Total 285 100.0%3,646 100.0%651 100.0%8,550 100.0%1,962 100.0%27,490 100.0% Source: Copyright 2020 Infogroup, Inc. All rights reserved. Esri Total Residential Population forecasts for 2020. Date Note: Data on the Business Summary report is calculated using Esri’s Data allocation method which uses census block groups to allocate business summary data to custom areas. November 12, 2020 ©2020 Esri Page 2 of 2 12/8/2020 November market stays hot for Twin Cities homebuilders - StarTribune.com https://www.startribune.com/november-market-stays-hot-for-twin-cities-homebuilders/573249631/1/5 ___B USI N ESS November market stays hot for Twin Cities homebuilders Despite the pandemic, Twin Cities housing construction permits continue to outpace last year. By Jim Buchta (https://www.startribune.com/jim-buchta/10644536/) Star Tribune D ECEMB E R 2 , 20 20 — 6:28 PM A fall rebound continues for Twin Cities area homebuilders. During November, 736 building permits were issued to build 1,558 units across the metro, according to data compiled by the Keystone Report for Housing First Minnesota. That was a nearly 17% increase over last year. Those figures included 701 permits to build single-family homes, an 8% increase over last year. That gain helped make up for a slow spring due to pandemic-related slowdowns in showings and construction. So far this year single-family permits are slightly ahead of 2019. “Homebuilders are still catching up and pulling permits from an increase in sales this summer and fall,” said Gary Kraemer, president of Housing First Minnesota, in a statement. Multifamily construction — mostly market-rate rental apartments — has been weaker and more volatile this year. During November enough permits were issued to build 857 units, a quarter more than last year. So far this year, however, total multifamily construction is down 16% as developers re - assess their plans during what’s been a difficult year for rental properties. 12/8/2020 November market stays hot for Twin Cities homebuilders - StarTribune.com https://www.startribune.com/november-market-stays-hot-for-twin-cities-homebuilders/573249631/2/5 A single permit can be issued to build more than one unit and those figures have been erratic from month to month. For the month, Maple Grove was the busiest city with 275 planned units, followed by Minneapolis with 215 units and Rosemount with 143. Homebuilders are riding the coattails of a surge in existing home sales throughout the metro. But because buyers outnumber sellers in some parts of the region, many buyers are considering new construction. Builders are also the beneficiaries of a growing desire for suburban houses that offer bigger yards and more space for home offices. J E F F W H E E L E R • S TA R T R I B U N E Realtor Jim Schwarz in one of the townhouses under construction in his Sheldon Place development in Eden Prairie. Despite the J EF F W H EE LE R • STAR T RI BU NE Realtor Jim Schwarz in one of the townhomes under construction in his Sheldon Place development in Eden Prairie. A D V E R T I S E M E N T 12/8/2020 November market stays hot for Twin Cities homebuilders - StarTribune.com https://www.startribune.com/november-market-stays-hot-for-twin-cities-homebuilders/573249631/3/5 “Buyers are looking for more inventory,” said Jim Schwarz, a Twin Cities sales agent who works with several homebuilders. “I’m seeing more buyers downsizing and moving into smaller homes, townhouses and condos with nice finish levels and maintenance-free living.” Schwarz has been marketing a 10-unit townhouse redevelopment in Eden Prairie called Sheldon Place, which has been appealing to buyers who want to move out of the Twin Cities and into the suburbs. “With COVID-19, buyers are looking further out since they don’t have to drive into an office,” he said. “I think that trend will continue as companies will allow more employees to work from home in the longer term.” The project was built on a small infill site in an established neighborhood where there was little room to establish dedicated parking. The solution, Schwarz said, was to give each homeowner a traditional two-car garage with storage, plus a covered carport with two additional parking stalls. A D V E R T I S E M E N T 12/8/2020 November market stays hot for Twin Cities homebuilders - StarTribune.com https://www.startribune.com/november-market-stays-hot-for-twin-cities-homebuilders/573249631/4/5 And to make the units appealing to those who want to age in place, the units come with an optional elevator. Though the model is complete, three units are still under construction and five are yet to be built. One unit has already sold. “We thought it would be a traditional empty-nester neighborhood,” Schwarz said. “But it’s resonating with many types of buyers including some that are looking to exit Minneapolis and move to the suburbs.” Jim Buchta has covered real estate for the Star Tribune for several years. He also has covered energy, small business, consumer affairs and travel. jim.buchta@startribune.com 612-673-7376 A D V E R T I S E M E N T 12/8/2020 November market stays hot for Twin Cities homebuilders - StarTribune.com https://www.startribune.com/november-market-stays-hot-for-twin-cities-homebuilders/573249631/5/5