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HomeMy WebLinkAbout7.a. Project UpdatesEXECUTIVE SUMMARY Port Authority Meeting Date: October 18, 2022 AGENDA ITEM: Project Updates AGENDA SECTION: Old Business PREPARED BY: Eric Van Oss, Economic Development Coordinator AGENDA NO. 7.a. ATTACHMENTS: None. APPROVED BY: LJM RECOMMENDED ACTION: Information Item. ISSUE Previous discussions with the City 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. Projects in Progress Breweries/Tap Houses: OMNI Orchards: OMNI’s building permit has been pulled and total grading work has started. The City has approved two deferral agreements related to their building permit fees and SAC charges in June. The shell of the building is up and they are targeting a December opening. Israelson properties: Rosewood Commons at Highway 3/42: Plans have been submitted for a senior housing facility along with approvals needed for additional multi-family housing planned for the site. The memory care facility has broken ground. Rec Center/Life Time: The purchase agreement for approximately 26 acres of land and other relevant agreements were approved by the City Council on April 5th, 2022. The City’s website has a page dedicated to this project for additional information. Staff has begun to meet with the developers interested in portions of the eastern portion of the intersection. Staff expects conceptual proposals to begin to filter in this summer. Additionally, the Council and Port will likely see requests for residential projects on the northern end of the site. Staff is working with a housing developer on the Lennar owned western portion of the intersection. Life Time’s applications for a Preliminary Plat, Major PUD Amendment and Site Plan Review were approved by the Planning Commission in June and by the City Council on August 16th. UMore Residential/Amber Fields: Maplewood Development is working with individual developers on the different housing types across the property. Grading and infrastructure work is underway. Staff has received applications for the first several phases of development totaling more than 1,000 housing units. Additional phases are currently being finalized for application. Currently there are plans for 422 units of single-family homes and 811 units of townhome or multifamily. Super America/Speedway: The property was placed in receivership with Lighthouse Management. Their role is to find care for the liability, assets and property etc. The City will require underground storage tanks be removed. Staff spoke with Lighthouse Management on August 11th and currently there are not new updates as the senior secured creditor continues to consider its options related to the property moving forward. The Home Depot/Project Osprey: Exterior utilities in progress and the building is several weeks away from completion . The extension of Boulder Avenue is taking place this fall / spring of 2023. Scannell Project: Initial site work has begun on the 585,000 square foot FedEx facility. The foundation permit for the facility is in. CDA Property: Schafer Richardson has submitted plans for review on the Akron property. This project was continued by the Planning Commission in September and will be considered again in October. Staff continues to work with the CDA and Schafer Richardson on financing strategies for the affordable portion of their development. Roers: Roers proposed a multifamily building on the northern end of the Akron Lennar site. This project was continued by the Planning Commission in September and will be considered again in October. Real Estate Equities: Real Estate Equities has submitted plans for a 160-unit affordable apartment project in Amber fields. The Council will be asked to approve a resolution in support of the project as part of the CDA Tax Increment Financing process. This will be reviewed by the Planning Commission in November. Sweet Harvest Building: A lease agreement has been signed and building permit approved for work on this facility. The new tenant is Stonebrook Equipment Inc and they create custom vehicles and fleets for businesses. They will use the entire space in addition to making some further site improvements. Staff has reached out to Stonebrook to schedule a ribbon cutting. Highway 3 and 46: Both sites on the eastern and western side of Highway 3 have prospective projects that are likely to submit plans this summer. Plans were submitted for the Frana for a second Rosemount facility on the Western section of this site and were approved by the Council last month. Nautical Bowls: A new fast casual restaurant is opening next to Aldi. Staff is working on a ribbon cutting for November. Sylvan Learning: Opened in the commercial area off Crestone. Flint Hills Solar: The permit for the solar project is ready for pickup. A groundbreaking ceremony this fall is anticipated. Hawkins Chemical: This facility is expanding operations in the heavy industrial area of Rosemount. RFI and Inquires (February/March) Housing: Staff met with 2 developers interested in multifamily sites in Rosemount. The developers are at various stages in the site process, but all are focusing on the high-density sites near the Akron/42 intersection. Of the 5 large greenfield sites that have been designated for multifamily, either though the Comprehensive Plan or Commercial Visioning, 4 have active projects moving forward leaving just the Emerald Isle site available. Commercial/Services: Staff met with 2 developer interested in retail or commercial projects. Staff will provide an update on an RFI meeting that some Port Commissioners attended in May. Restaurant: Staff did not meet with any restaurant users this month. Industrial: Staff had 4 inquires or discussions regarding Business Park, UMore, Opus, and County Road 46/Hwy 3 sites. OTHER Downtown Façade Grant: Work has been completed on the approved façade activities for Dakota Awards and Engraving and their matching should be dispersed within the month. Work has begun on the façade improvements for the Rosemount Floral building. Once work is completed and invoices have been received, they can apply for their matching funds. Marketing: Staff has it scheduled to attend 3 events in the later half of 2022 focused on marketing Rosemount. The City will have a booth at the annual MNCAR Expo in October and staff will be on two panels for the Minneapolis Real Estate Journal—the Industrial Site Summit and the South Suburban Summit. At these events staff will focus on marketing industrial sites in Rosemount as well as the Akron and 42 commercial corridor. Rosemount will be a sponsor of the Expo and the logo will appear on branding materials. See Example below: