2025 Annual Comprehensive Financial Report

 Chick-fil-A purchased the former Best Buy building at 8100 Old Carriage Court and demolished the existing building. They have submitted plans for a new restaurant along with an adjacent Panda Express. Both will be under construction in 2026.  McDonalds submitted preliminary plans for a new restaurant at 8108 Old Carriage Court. They plan on being under construction in 2026  Good Day Car Wash began construction on a new facility at 8140 Old Carriage Court and plans to open in the summer of 2026.  Discount Tire at 8150 Old Carriage Court has proposed an addition to its building for construction in 2026.  Holiday Station stores, 1605 Windermere Way, opened in 2025.  Valleyfair continued to invest in their amusement park, adding new rides and updated restaurant/food service buildings.  Fremont Industries at 4400 Valley Industrial Drive is proposing to demolish its existing building and construct a two-phase complex to modernize its facilities in Shakopee.  Canterbury Park entered into a Letter of Intent to develop a limited-service hotel on the trackside property adjacent to the Boardwalk. Construction is planned for 2026.  Canterbury Park in cooperation with the City of Shakopee’s Economic Development Authority is developing plans for the 28 acres south of the Mystic Lake Amphitheater. Plans include housing, additional entertainment uses, retail, hotels and public uses. An EAW is planned for 2026 with construction starting in 2027.  Windermere South 5th & 6th Addition – 158 single family lots, and 43 single family lots, were constructed., north of CSAH 78, west of Zumbro Ave. and east of CR 69/Old Brick Yard Road.  Highview Park- South of 130th Street (CSAH 78) and along Zumbro Avenue, overall 601 lot development is currently under construction, with 295 single family and twin home residential subdivision including the first five phases by D.R. Horton already constructed.  Gateway Townhomes – 42 units, located between Lincoln Street, Vierling Drive W and Taylor Street were approved.  Moraine Addition- Scott County Community Development Agency has begun construction on three new Community Land Trust homes in a 10-lot single family subdivision.  Palomino Trail - A Pulte Homes single-family residential development west of Windermere Way along 17th Avenue, is under construction with 83 new homes. Located south of Highway 169 and west of Marystown Road. This development includes a city trail along the northside of the project on bluff land owned by the city.  Valley Crest – 175 single family homes on 56 acres, are under construction by M/I Homes, west of Mystic Lake Drive S and north and south of Thrush St. The last lots should be completed in 2026.  Summerland Place. 588 residential units (300 apartments, 104 Villa Lots, 116 single family lots, 68 townhomes) is largely complete with a few remaining lots.  Prairie Pointe, a 40-unit multifamily complex for those facing homelessness was completed in late 2025.

Residential Development

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