APG Specialty Publications 00_LAKEVILLE_MD_19_DIGITAL | Page 14

Positioned to Thrive!
Business Opportunities
In 2018,
Lakeville was
selected as the
28th best place
to live in
America by
Money Magazine.
8 | Lakeville Area Guide & Member Directory
Lakeville is positioned to provide the business
community with convenient access to regional
transportation corridors and easy access to Twin
Cities amenities. The city issued commercial
and industrial permits with a total valuation
of $42,850,500 through 2018 and has ranged
between $30 million to $45 million since
2015. Opportunities abound for commercial
development to provide goods and services for
our growing population, both in the industrial
park and along the I-35 corridor.
Residential Living
As a growing city, Lakeville has issued the
largest number of new single-family home
permits in the Twin Cities from 2013-2018
according to the Builders Association of
the Twin Cities-Minnesota Housing First.
Additionally, Lakeville has one of the lowest city
tax rates in Dakota County.
The city issued permits for 446 single-family
homes in 2018 with a total valuation of
$140,596,001. This compares to 454 single-
family home permits in 2017 with a total
valuation of $143,524,000. The City also issued
permits for 81 townhome units in 2018 with a
total valuation of $16,665,000. This compares
to 77 townhome permits issued in 2017 with a
total valuation of $16,996,000.
The City also issued two permits for senior
multi-family projects in 2018 that included 55
senior market rate rental apartment units and
20 memory care units with a total valuation of
$10,884,000 for both projects. In 2018 the City
issued permits for three multi-family projects
that included 315 rental apartment units with a
total valuation of $39,440,000.