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Residential building slumps in FL as commercial side booms |
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Wednesday, 05 March 2008 |
Jennifer Larson
Staff Writer
Residential building may be slumping in Forest Lake but that is definitely not the case for a booming commercial side.
Around 120 people gathered at the Forest Lake Area Chamber of Commerce monthly membership meeting on Feb. 21 at Robert’s Family Funeral Home to hear about the latest developments in the community.
Presentations were made by Doug Borglund, community development director for the city of Forest Lake; Laurie Kumerow and Larry Porter, members of the FLAAA Sports Complex Steering Committee; Richard Johanneson, of Pace Development (owners of Marketplace Foods); Patrick Gaughan, of Gaughan Development; Dan Anderson, president of Fairview Lakes Health Services; and Len Pratt, of Pratt Development.
City construction
In his report to the Forest Lake City Council during the regular meeting on Feb. 25, Borglund said projections for 2008 residential construction will most likely fall short of last year’s totals. However, he indicated that commercial projects already in the works should be ahead of 2007.
Borglund told attendees at the chamber luncheon the total value of commercial development being reviewed for possible construction starts in 2008 – not including any residential – is approximately $93 million.
Those projects include Hardwood Creek Apartments, Walker Methodist Elderly Care, the Forest Lake Sports Complex, Broadway West retail development, Patriot Bank and Headwaters Village, Palme Plaza, Everton Commons, Comfort Homes, Mill Pond Apartment, the Northland Mall redevelopment and the Kari Office building.
Projects valued at $30 million are already on the table for 2009, the city official reported to the council.
FLAAA
Kumerow said industrial revenue bonds will be sold and backed by four local banks to fund the $5 million sports complex. A private and public collaboration, she said $1.2 million still needs to be raised for FLAAA to reach its goal.
Naming rights are available, Kumerow noted.
“We need to get in the ground as early as possible,” she said of the financial push. Kumerow said the association is anticipating starting construction this spring so that the facility can open by the beginning of the next skating season.
Northland Mall
Johanneson said Pace Development purchased property surrounding Marketplace Foods. However, there is no room to expand at the store’s existing site, he added.
To prevent leakage from the community, Johanneson said they will be constructing a 70,000 square foot grocery store on the property where Northland Mall sits. He said the plans include three multi-tenant retail buildings as well.
“Forest Lake is growing and we hope to be a part of that,” Johanneson said.
Business park
Gaughan said his development company is slated to construct multiple buildings with mixed uses like office, retail and medical spaces at 4971 Scandia Trail.
With convenient access to I-35, he said the Forest Lake Business Park will have great visibility off TH-97.
“We’re in the early stages,” Gaughan said.
Headwaters of FL
Pratt said the project is a major milestone in creating a special place within the city. The plans incorporate a variety of uses including recreational facilities, senior housing, Washington County park and ride as well as the Library and Service Center, Village core retail, offices and neighborhood conveniences.
Pratt said he is thrilled to hear about all the good things to come.
“Competition is on the outside world,” he said. “We have to stand together as the Forest Lake area.”
Fairview expansion
Anderson said that Fairview Lakes has a lot of reasons to celebrate as Feb. 14 marked the medical facilities 10 year anniversary in Wyoming.
“It has been a period of constant change and growth for us,” Anderson said.
He said Fairview is finishing up a $30 million expansion and remodel project at the Wyoming campus that was started in 2006. The project is extensive from the new equipment, additional space and services.
“The building expanded by roughly 40 percent,” Anderson added.
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