2019 City of Shakopee Comprehensive Annual Financial Report

 The EDA sold a parcel on the Minnesota River bluff for development of a 170-unit market rate apartment complex with a restaurant. The project will remove the overhead powerlines from the bluff and rebuild several streets. Construction is slated to start in June 2020.  Sarazin Street Flats Is a 105 unit workforce housing development. The two buildings opened in 2020 in two stages.  Lennar Homes is completing Ridge Creek, a new 103 single-family home subdivision. Approximately 70% of the lots have been sold and built.  Windermere by D.R. Horton is in its third phase of development consisting of 150 new homes, including new single-family homes and multi-level and single level townhouses. DR Horton is in the process of platting its next phase of homes.  Benedictine Health System is building a $60 million, 180-unit independent living, assisted living and memory care facility in the Windermere development.  The Willows at Windermere is a 60-unit workforce family apartment complex with supportive services for residents that helps move them into homeownership.  The City has a number of new market rate apartment complexes including the SIXton, a 133-unit market rate apartment complex adjacent to the new 103,000 square-foot Hy-Vee. TRIO is a 300- unit market rate apartment complex being constructed in Southbridge, with its first 100-unit building nearing completion.  Stagecoach in Southbridge is a new 60-home subdivision that is under construction in Southbridge. The homes have access to a new 2-acre city park that preserves a large stand of heritage oaks. The development is already 60% built out.  Donnay Homes is currently finishing the second phase of 25 single-family lots at Prairie Meadows located west of Marschall Road.  The first home in West Ridge Lake Estates, a 14-lot executive development on Lake O’Dowd, has started construction. Several other lots are under contract.  Construction is well underway on Countryside 2 nd Addition, a 31-lot single family residential development.  Link Construction has almost completed all the homes on South Parkview 5 th Addition, a development of 21 single family homes.  Doran Construction is in the middle of the first of a two-phase development of 600 luxury apartment units, known as Triple Crown, as part of Canterbury Park’s $400 million redevelopment.  A large-scale subdivision with more than 600 residences has been submitted for the Hauer Farm near the intersection of County Highway 83 and 17 th Avenue.  Shakopee Gravel has submitted concept plans for the reuse of the gravel pit as a residential subdivision and light industrial. Commercial:  A number of new daycare and Montessori facilities opened in the last 12 months, including Rainbow Daycare, New Horizon Daycare, Ladybug Child Care, and River Valley Montessori.  Universal Stone opened a 50,000 square-foot stone products showroom and fabrication operation in eastern Shakopee.  Copper Pint restaurant finished construction in the Southbridge area and opened for business in the summer of 2019.  Canterbury Park has submitted a Planned Unit Development for the next phase of this $400 million redevelopment that will include a Ms. Porter’s School, corporate headquarters, a 125 unit luxury age restricted development, two retail and restaurant pads, a pad for a future hotel, 110 unit luxury townhome development and a 60 unit cooperative.  My Place Hotel opened a 63-room extended stay hotel near Canterbury Park.  The EDA has under contract or sold more than 30 acres of land in the West End Gateway OPUS is developing a new corporate headquarters and manufacturing facility for Cherne USA and an 83,000 square foot speculative office building; Doggie Doos Spa and Resort opened a new $2  A new 127-room Fairfield Inn and Suites opened several months ago.  Wendy’s Restaurants renovated a closed White Castle in Southbridge

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