HomeMy WebLinkAbout2014-08-12 PACKET 04.A.
To: Economic Development Authority
From: Ryan R. Schroeder, City Administrator
Date: August 5, 2014
Subject: Development Update
YTD 2014 City staff has processed the following commercial remodels, additions and new
buildings (excluding public and institutional and miscellaneous electrical/HVAC and similar
permits):
Interior Finish or remodeling:
1. Burger King; 8481 E. Pt Douglas; 3,785 SF (plus exterior)
2. Chiropractic Office; 8800 E. Pt. Douglas;1,140 SF remodel
3. My Dog Spot; 7155 Jorgensen Ln; interior finish
4. Old Tyme Fudge & Ice Cream; 8800 E. Pt. Douglas; 1,450 SF remodel
5. Wal-Mart; 9300 E. Pt. Douglas; interior finish for Da Vi Nails and Subway
Addition:
1. 61 Marine and Sports; 11730 E. Pt Douglas; 1,800 SF addition and 2,120 Storage
Building
New Building:
th
1. G-Will Liquors: 6999 80 Street; 12,576 SF building
2. Point Douglas Plaza (site of former Hollywood Video); 7180 E. Pt. Douglas; 6,785 SF
building
3. Aggregate Industries 11250 Grey Cloud Tr.; 60,000 SF temp process building
Of note is that remodeling occurring at Kok Funeral Home and Taco Bell is occurring under
permits issued in the prior year. We are currently working with development interests
expressing an intent to repurpose the former Lyman Lumber (former CP land holding within the
business park) and Golf Dome (along West Point Douglas) sites. Discussions continue with
various interested parties regarding the former Rainbow and Home Depot sites and we have
nothing definitive to report at this point in time.
Through July, 2014 we have realized $30,307,359 in total permitted construction activity.
Included is $6,055,226 in commercial activity and $14,706,841 in new home construction at 51
new units. Permit values for detached single family homes are currently averaging
$298,500/unit. In an average year, with 51 housing units permitted through July we might
anticipate 90 new units by year end (including attached housing product). We do, however,
anticipate a bit of a slow down due to restricted lot availability. In any case, however, we
should exceed $20 million in new home construction, which is at a level we haven’t seen since
2008.
Residential Construction Since 1970Annual
Single/Average
AttachedPeakCG Labor
YearResidentialCityNat'lForce
UnitsRecessionUnemploy.Unemp.Participation
1970162Start 12/69 End 11/706.10%
450
1971356
1972248
400
1973220Start 11/73
1974213
350
1975189End 3/759.00%
1976209
300
1977250
1978255
250
1979251
1980202Start 1/80 End 7/807.80%
200
1981116Start 7/81
198246End 11/8210.80%
150
198377
1984150
1985100
100
1986196
1987273
50
1988404
1989251
0
1990329Start 7/903.50%12,880
1471013161922252831343740
1991270End 3/914.50%7.80%13,438
19924104.30%13,862
19933733.60%14,394
19944062.70%15,291
19953822.60%16,37470-79: Ave 235/year
19963002.60%17,14080-89: Ave 182/year
19972052.10%17,78390-99: Ave 308/year
19982181.90%17,95700-09: Ave 189/year
19991841.80%18,510
20001452.40%18,150
2001182Start 3/01; End 11/013.00%6.30%18,314
20022963.70%18,268
20032844.10%18,691
20043084.00%18,727
20052653.50%18,853
20061853.50%19,015
200767Start 12/073.90%19,002
200889continue4.90%19,336
200966End 6/097.50%10.20%19,258
2010456.10%19,415
2011505.30%8.50%19,627
2012535.10%7.90%19,569
2013564.30%6.70%19,724
2014514.20%6.10%19,206Jun-14
Total9387
Average213
Labor Force data: Minnesota Dept of Employment and Economic Development
UE Rate data from www.economagic.com
Note: Unit ounts do not include 157 unit Norris Square or 84 unit White Pines Sr. Housing
City of Cottage Grove
Residential Building Permit History
YearPermits
1990313
450
1991270
400
1992417
1993373
350
1994425
300
1995392
250
1996321
1997213
200
1998220
150
1999186
2000145
100
2001182
50
2002296
2003284
0
1234567891011121314151617181920212223
2004308
2005265
20061851990 Pop.22,935census
2007672000 Pop.30,582census
200889Proj.2010 Pop.34,589census
200966201335,403Met C.
2010892020 Proj.44,000Met C.
2011502030 Proj.53,000Met C.
201253
20135635
YTD 20145170
201570
201670
2017100
P…Y
Commercial / Institutional Construction Activity
1982 to YTD
Number ofValue of
CommercialCommercial
YearPermitsPermits
198262824,118
1983685,670,406
1984683,264,830
1985907,109,090
19861204,955,859
70000000
198789594,116
1988481,925,598
60000000
1989766,221,317
19906618,546,066
1991795,245,738
50000000
1992665,482,604
1993788,240,528
40000000
1994894,758,131
19959911,058,484
199617714,761,348
30000000
19971649,550,499
199812118,634,862
20000000
199914111,007,052
20001266,626,871
100000000
100000000-1E+08
C…
200114859,313,232
10000000
100,000,000
200221525,989,351
200315714,978,769
200421712,811,619
0
200522413,590,114
135791113151719212325272931
200619322,489,780
200716639,444,986
Yr 200817944,736,304
Yr200913611,812,858
201013111,494,841
20111202,886,362
201223033,410,848
201328334,625,556
2014 YTD2116,055,226
Building Permit Comparisons 2001 to YTD
Commercial/Institutional Permt Values
Month20012002200320042005200620072008200920102011201220132014
January1,101,864
511,4553,659,480532,996162,307269,606358,1411,371,478845,242164,8307,83153,41612,130,808727,551
February345,350
15,000182,039484,100889,425158,7981,021,749230,1852,084,0802,371,99247,00034,18021,0771,419,390
March2,032,315
2,466,820228,5701,606,829170,0681,089,615342,5932,106,5054,276,745169,9061,091,611228,795471,167870,913
April439,475
2,486,9308,940,5692,156,900811,8252,738,356236,8201,250,86520,262,2621,329,6545,123,26423,5452,527,0054,899,578
May619,309
545,3481,209,7451,616,822326,8903,424,1297,789,54318,022,3864,531,7523,656,3001,777,768291,4251,392,5101,389,269
June963,775
10,549,9514,271,8971,199,715670,981971,3911,362,638381,3606,527,902171,780657,028997,2755,728,62119,644,462
July553,138
2,608,5571,254,080153,6242,136,715182,847272,7481,062,400799,866684,810423,50116,900243,6331,022,515
August
11,869,6711,672,539505,5472,830,438904,4101,918,075839,536170,764779,65074,73093,200524,168589,250
September
161,4141,435,43381,3631,564,731364,6874,351,5891,082,302677,168440,9761,086,92543,5761,978,570521,569
October
26,317,7591,867,2276,271,769627,4592,152,5991,505,8425,363,5653,864,6171,219,028637,620123,953175,0511,587,665
November
300,0281,186,572189,4201,357,167201,0852,371,6007,040,83844,06513,980466,343916,554887,300966,754
December
1,458,47771,200179,6841,263,613558,481958,442693,566636,840800,952101,22063,5437,330,938986640
Total6,055,226
59,291,41025,979,35114,978,76912,811,61913,016,00422,489,78039,444,98644,721,30311,812,85811,494,8412,886,36233,410,84834,625,556
C/I only5,965,226
15,918,85721,119,91013,475,28311,296,47112,279,49414,848,58035,474,486*7,160,8955,124,2195,560,6371,351,74929,798,38334,447,456
*includes two multi-family projects in 2007 at $16,709,425
Residential New Construction Permit Units and Values
Month20012002200320042005200620072008200920102011201220132014
January
4172035261624431417
February
6441013261249542102
March
1030142731171067763712
April
11174123171594522522
May
121916253028896*51510310
June
201117421424910828659
July
2133172017931510141109
August
3262164402431236477
September
34152214574965834
October
66727166205363735
November
351020104675431077
December
1975919765435335
Total51
18229628430826518567896689505356
Total Value14,706,841
25,943,89741,334,68853,001,63960,414,62654,097,53349,931,36321,896,19325,902,26617,049,31915,702,60514,251,04615,354,80114,154,575
Per/SF288,369
142,549139,644186,625196,151204,142269,899326,809291,037258,323277,355290,084289,713252,760
*includes 44 multi-family at $3,221,639
Total Permit Value Comparisons including Residential Remodels
Month20012002200320042005200620072008200920102011201220132014
January4,121,669
1,467,3987,501,3433,903,9856,319,2686,462,0745,179,2392,274,4612,866,3091,714,2511,209,940717,24913,456,6511,244,770
February1,490,504
1,462,5026,585,5873,211,4993,737,9365,634,6615,324,9852,147,1595,209,1424,289,2211,486,745854,680649,0521,789,634
March5,379,840
5,026,3296,349,5565,377,7296,126,2417,359,7796,384,8726,171,1126,652,4912,184,3673,978,1622,510,7841,853,8142,694,922
April1,596,079
5,422,72114,384,8479,214,5826,814,1677,842,3725,822,4445,185,33122,276,2893,458,6086,674,5081,453,2564,661,4576,038,649
May4,466,321
3,842,2847,623,3996,367,4796,920,2609,612,54514,527,63122,603,8358,812,0646,579,1508,558,9223,046,2135,455,5933,086,085
June8,896,120
14,957,5009,142,4756,154,23911,110,4256,008,34910,627,3944,916,95211,187,0963,778,7162,539,1324,627,7188,449,85521,865,244
July4,356,826
6,427,3808,247,0125,199,6347,168,9115,489,9523,903,2283,609,8645,976,5014,724,9073,416,1762,377,9211,881,5064,795,916
August
14,614,7497,300,2525,937,70016,100,3249,931,7238,748,1033,138,3764,733,8913,170,1085,890,8162,667,4473,968,2523,275,696
September
7,074,3516,517,1815,873,5635,872,2902,863,9017,400,5044,002,1684,299,5354,306,2276,300,0072,896,0703,623,5812,274,280
October
31,384,44711,730,88312,979,2235,889,2034,630,8586,409,3588,617,2525,812,0124,206,8864,781,8862,936,7791,947,4193,974,184
November
7,264,4354,091,5765,364,6864,303,0028,252,0965,451,56310,291,1622,125,5652,203,7372,198,2841,682,6943,624,3213,408,380
December
5,896,9132,058,45410,380,9005,197,5323,078,3263,236,4072,978,1682,106,2142,331,5982,022,7411,748,9648,699,8202,880,852
Subtotal30,307,359
104,841,00991,532,56579,965,21985,559,55977,166,63683,015,72875,935,84082,057,10942,947,77649,057,31927,519,77558,271,32157,328,612
Note: Includes commercial/institutional, residential, and remodels
To: Economic Development Authority Members
From: Alicia McMonigal, Economic Development Assistant
Date: August 4, 2014
Subject: BR&E Update
The Business Journal prints filings for new corporations and assumed names. Most are home based
businesses.
651 Lab 6348 Homestead Lane S May
th
Commercial Finance, Inc 7878 67 St Court S June
Custom Remodeling LLC 6998 Pine Crest Trail S June
Elsie Occasions, LLC 10860 Kingsborough Trail S June
CDK Investments, LLC 8733 Indian Blvd S July
EDA Action: Informational Proposes Only