Lakeville is home to Airlake Airport , a public use airport owned by the Metropolitan Airports Commission . It serves recreational fliers but is also ideally suited for business aviation . Several improvements are planned for Airlake Airport to better meet the needs of business aircraft . The airport currently has a 4,098-by-75-foot runway and fulllength parallel taxiway . Future plans include expanding the primary runway to 4,600 feet , and developing a 2,500-foot crosswind runway .
The City of Lakeville experienced a high level of development activity in 2021 , with an annual building permit valuation totaling $ 371,760,879 — its second highest permit valuation year in the City ’ s history . The City ’ s previous highest building permit total was $ 442,292,572 in 2020 .
Lakeville ’ s population was 69,490 in the 2020 U . S . Census . This equates to a 24.2 % population increase since 2010 . Lakeville ranks # 3 for population growth numbers in the Twin Cities behind Minneapolis and St . Paul and is now the largest city in Dakota County .
There were numerous ribbon cuttings for new businesses in 2021 , that included commercial and municipal retail businesses , restaurants , medical and other office developments , along with many industrial development projects and new housing developments , including memory care , market rate and senior living apartments .
Lakeville issued 527 single-family permits in 2021 and continued to rank # 1 In residential permit numbers in the Twin Cities . In addition , the City issued 209 townhome permits and 11 apartment projects , resulting in 390 market rate and senior apartments . The variety of over 1,126 new housing units developed in Lakeville in 2021 is consistent with the Envision Lakeville goal of providing housing choices for “ people of all ages and stages of life .”
The private sector invested over $ 95 million into commercial and industrial park development in Lakeville in 2021 and the largest permitted project was a new LTL trucking facility for Magnum Trucking , valued at $ 11 million .
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