Loading...
HomeMy WebLinkAbout4.1 Business InquiryCottage J Grove "�-oonomic De_,e,opment To: 40 HonoraL,I"Li IVICA yVI LJCAI IGy GII%.A L_LJlI IVI"Li IIILJGIJ From: Christine Costello, Economic Development Director Date: November 1, 2020 Activites that have taken place in the community that may have a potential impact on economic development activity: Discussion Staff Action Thursday, August 13, 2030 Economic Development Director Costello and Economic Meeting with Xcel Energy Development Coordinator met with Xcel Energy's Economic Development staff to discuss certifying property south of 100th Street n the Business Park as part of Xcel Energy's Shovel Ready program Tuesday, August 18, 2020 Economic Development Coordinator Wolf les the sub Sub Committee Meeting of committee meeting and staff of the sub committees Visitor's Bureau discussed marketing efforts for each of the five sub groups that the Visitor's Bureau will focus on. Friday, August 21, 2020 Met with the Washington County staff representative on how Meeting with Washington a BRET station could be included in the Red Rock Corridor County Implementation Plan Tuesday, August 25, 2020 Discussed proposals for a website and marketing ideas for Cottage Grove Convention budget. and Visitors Bureau meeting Thursday, August 27, 2020 Economic Development Director Costello attend the Board Chamber Board Meeting meeting on behalf of Councilmember Dennis and provided a update on the last two Council meetings. Tuesday, September 8, 2020 Economic Development Director Costello and Assistant to Meeting with Gene Smallidge the City Administrator Matt Wolf met with Gene Smallidge and his broker Jeff LaFavre of IAG Commercial to discuss the land Mr. Smallidge has south of 100th Street for development and the need for an easement to extend the sanitary sewer which will allow for development of Mr. Smallidges property and additional property west of Ideal Avenue and south of 100th Street. Tuesday, September 15, Economic Development Director Costello and Senior 2020 Meeting with Carmen Planner Emily Schmitz met with Carmen Carter about Carter development of a potential event venue center. Director Costello shared with Carmen Carter potential sites, grants funding, and additional business resources. Carmen Carter is in very preliminary stages of development. Tuesday, September 15, Economic Development Director Costello attended a transit 2020 Transit Meeting meeting hosted by Community Development Director Boike and Senior Planner John Burbank. The meeting was to discuss Metro Transit services that could be added to Cottage Grove such as local circulators. Tuesday, September 21, Economic Development Director Costello met with 2020 Meeting with Councilmember Dennis who introduced Dan Parker, who is Councilmember Dennis a chef and craft beer consultant. Mr. Parker is interested in opening his own brew pub. During the meeting potential locations for a brew pub were discussed. Director Costello followed up with Mr. Parker on additional site details, open to business and green grant opportunities. Tuesday, September 22, Economic Development Director Costello and Director of 2020 Meeting with Gerry Public Works Ryan Burfeind met with Gerry Herringer, the Herringer landowner for the property at Shoppes at Cottage View. Director Burfeind discussed the draft feasibility report and shared with Mr. Herringer that the report allowed the City's engineering consultant Bolton and Menk to refine the road alignment and the associated costs with utilities and road construction. The report also clarified that the site still needs considerable grading for the construction of street and pond improvements. Monday, September 28, City Administrator Levitt and Economic Development 2020 Chamber Golf Classic Director Costello attended the event since the EDA sponsored the putting contest. It was an opportunity to chat with local business owners during the event. Tuesday, October 13, 2020 Economic Development Director Costello attended a virtual Virtual Conference land development conference by Minnesota Real Estate Journal. Conference takeaways: • Multi -family development took a pause this Spring and Summer but now seeing the market come back. • Another challenge for multi -family development is retail on the first floor. With the pandemic it is hard to say what the full impacts will be to the retail market. • Urban core development is difficult at the moment due to office market related to the pandemic, so this is impacting residential market in the urban core. This is a positive for suburban markets where it is seen more palatable. • National retail tenants are also wanting a drive thru, so a development that wants retail but does not allow for a drive thru will find it difficult to incorporate any national chain retailer. • Industrial competitors for Cottage Grove may include the City of Dayton which has 500 acres north of the new 1-94 interchange to be completed in 2021 and Woodbury, who has 200 acres located at 1-94 and Manning Avenue. Cottage Grove Business Park still has "shovel ready' compared to these communities so we are able to move quicker through the development process. • Transportation Corridors from a broker perspective are important. Their clients want what is called "Two Rights", they want to be able to take two turns only to get into their facility. • Concern for 2021 is still the supply chain. Lumber costs are through the roof, timing of projects is being impacted so for instance, the delivery of appliances for a multi -family development or windows. Some suppliers can't make or provide it fast enough for developments. A second concern from developers is the investor and lender community and getting them through the pandemic concerns and open to financing of projects during this time. They also mentioned they are seeing contractors pass on a project or bidding for a project because they are too busy to take on another job. • In the housing market developers are starting to see single- family rental projects, slab on grade developments, and people wanting a "zoom" room in their home.