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As Lakeville grows, city is addressing its needsPosted: 5/30/03 by John Sucansky Development and growth remain the constant highlight for Lakeville, as city officials delivered the 10th annual state of the city address May 21. Community and Economic Development Director David Olson and City Engineer Keith Nelson outlined the progress in the city during the past year that their departments have been working feverishly on. In the realm of economic development, Lakeville during 2002 began to attract large commercial retail venues ó a trend that has continued into 2003. Olson said some notable developments within the city were TimberCrest, Hom Furniture, Ipava Market Place, Lakeville Crossing and the new senior facility Mainstreet Manor. These new developments, in addition to new facilities in the office and professional districts and industrial park, have contributed millions of dollars in tax base and permit fees to the city. Continuing this new tradition of large mixed use developments, Olson said the Crossroads project on 240 acres near the intersection of Cedar Avenue and Dodd Boulevard, is the largest in the cityís history. Success in commercial development has only been made possible by residential growth. Olson drew attention to the 24 residential plats created in the past year yielding more than 1,200 housing units. With $150 million in townhome permits and $75 million in single family home permits, Lakevilleís growth is continuing to fuel itself. Olson said the cityís average price of a home has gone up to $263,000 in the past year as well, placing the city within one of the highest growth rates for market value in the metro area. As determined by a county study, Lakeville is on track to reach a population of 74,000 by the year 2020, which is good reason to begin developing infrastructure now. Nelson drew attention to the construction projects within the city that will relieve traffic and make travel safer for residents and visitors. Along the interstate, he said the interchange improvements are on schedule and city, county and state officials are working to secure funding for the completion of these projects. John Sucansky is at roselake.thisweek@ecm-inc.com. -- Check out this week's newspaper for more details. © Thisweek Newspapers |
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