Lakeville reports $381 million in building permit valuation for 2025; commercial and residential growth led the year

Lakeville’s economic development director presented the city’s 2025 annual report, saying total building-permit valuation exceeded $381,000,000 and represented a $123,000,000 (47.9%) increase from 2024.

The presentation, led by Miss Goodroad, credited private-sector investment and the city’s permitting processes for the growth and highlighted a $47.8 million permit for Dakota Electric’s new facility. Goodroad said Lakeville finished 2025 with 229 single-family permits, 118 detached townhome permits, 201 attached townhome permits and three apartment permits totaling 73 units. Residential construction accounted for roughly 46% of the total valuation.

“Private sector invested about $111,300,000 into new commercial and industrial park development,” Goodroad said, noting other large permits included the Lakeville 35 Logistics Center and a new Chase Bank site. She said institutional projects, including the first center and Grand Prairie Park construction, also contributed to the year’s activity.

The presentation included maps showing permit distribution across school districts and neighborhoods and noted Lakeville’s ranking as number one in residential permits in the Twin Cities region, according to Housing First. Goodroad told councilmembers the city completed the year with 523 final platted lots and cited a median estimated market value of $468,000 (Dakota County data).

Councilmembers thanked Goodroad and staff for outreach and coordination with the chamber, schools and regional partners, and for work on the business retention and expansion program. Goodroad said upcoming priorities include the Cedar Avenue corridor market analysis and the kickoff of the 2050 comprehensive-plan update in March 2026.

The council did not take action on the report; the presentation provided context for forthcoming planning and permitting decisions.