HomeMy WebLinkAbout2011-10-11 PACKET 04.s. •
To: Economic Development Authority
From: Ryan R. Schroeder, City Administrator
Date: October 6, 2011
Subject: Development Update
Building Permit Data
Residential permit activity continues on pace with our more recent projections which is at a
total unit count of 50 estimated for the year. Production through September is at 40 total units
(39 new single family). Per unit values continue strong at an average of just over $291K which
is well above the values in all prior years except 2007 -8. It would appear, therefore, while
demand across the market has not rebounded the demand in a portion of the market has in
fact continued on track. Lot availability is declining such that absent new development we will
experience lot exhaustion during 2012.
Commercial construction has not kept pace with the residential market. There are various
potential projects queuing up, however, most of these have development challenges beyond a
building permit approval.
PSCH
The City Council awarded this project on September 21 with and official ground breaking on
September 29. The grading permit is scheduled to be granted on October 6 with the
foundation permit on October 7. The initial Graham schedule (the General Contractor)
anticipated a notice to proceed on October 19. That same date is scheduled for their
submittals of long lead materials and equipment with review of those submittals by November
2 and procurement generally by November 17. Selection of the testing selection due date is
October 19. AET has been selected to conduct that testing with submittal of the contract
document having occurred on September 27. As has been reported previously the current
project cost estimate is at $15,708,491 with a base bid of $12,985,000 plus the Veteran's
Memorial of $36,000.
MSP
The regional MSP economic development marketing entity is now up and operating. They
have scheduled a PR event in October to announce their arrival. We have begun receiving
leads from them over the past month or so.
tesidential Construction Since 1970
Single/
Attached
Peak
'ear
Residential
City
Nat'l
Units Recession
Unemploy.
Unemp.
1970
162 Start 12/69 End 11/70
6.10%
1971
356
1972
248
1973
220 Start 11/73
1974
213
1975
189 End 3/75
9.00%
1976
209
1977
250
1978
255
1979
251
1980
202 Start 1/80 End 7/80
7.80%
1981
116 Start 7/81
1982
46 End 11/82
10.80%
1983
77
1984
150
1985
100
1986
196
1987
273
1988
404
1989
251
1990
329 Start 7/90
3.50%
1991
270 End 3/91
4.50%
7.80%
1992
410
4.30%
1993
373
3.60%
1994
406
2.70%
1995
382
2.60%
1996
300
2.60%
1997
205
2.10%
1998
218
1.90%
1999
184
1.80%
2000
145
2.40%
2001
182 Start 3/01; End 11/01
3.00%
6.30 %
2002
296
3.70%
2003
284
4.10%
2004
308
4.00%
2005
265
3.50%
2006
185
3.50%
2007
67 Start 12/07
3.90%
2008
89 continue
4.90%
2009
66 End 6/09
7.50 %
10.20 %
2010
45
6.10%
?011 YTD
40 May -11
5.90%
9.20%
average 219
Fotal 3205
Note: Unit counts do not include
157 unit Norris Square or 84 unit
White Pines senior housing
70 -79: Ave of 235 /year
80 -89: Ave of 182 /year
90 -99: Ave of 308 /year
00 -99: Ave of 189 /year
Total of 223.5 /year
employment data from www.economagic.com
City of Cottage Grove
Residential Building Permit History
Year
Permits
1990
313
1991
270
1992
417
1993
373
1994
425
1995
392
1996
321
1997
213
i
1998
220
1999
186
2000
145
2001
182
2002
296
2003
284
2004
308
2005
265
2006
185
2007
67
2008
89 Proj.
2009
66
1990 Pop
2000 Pop
2010 Pop
22,935
30,582
34,589
2010 89 2020 Proj
2011 40 YTD 50 2030 Proj
2012 70
44,000
53,000
census
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CITY OF COTTAGE GROVE
MINNESOTA
To: Economic Development Authority Members
From: Kenneth Smith, Community Services and Communications Coordinator
Date: October 11, 2011
Subjects BR &E Update
The Business Journal prints filings for new corporations and assumed names. Most are home based
businesses.
Infosafe Technologies LLC
Make it Mary LLC
Accelerated Systems
Victoria's Wedding & Event Planning
8578 Hale Ave. S. September
7747 Jasmine Ave. S. September
9694 78th St. S. September
7652 Hinton Ave. S. No 3 September
EDA Action: Information Only