2022 Annual Comprehensive Financial Report

 Peak Physique, a fitness training facility has opened in a retail space in Shakopee Flats.  Chase Bank is remodeling a former Dairy Queen restaurant as a new branch.  Bun Mee Restaurant will be opening soon in a former Ruby Tuesday restaurant.  Saint Francis Regional Medical Center is partnering with Tria Orthopedics for the construction of a 44,000 ambulatory surgery center. Construction will begin this spring.  Redevelopment of a commercial site into a new Rocket Carwash will begin construction this spring.  Take 5 Carwash in Southbridge will be starting construction this spring.  Riverside Valley Dental recently opened a new 4,200 square-foot dental office in Southbridge. Industrial:  W.P.T. Capital completed the 505,000 square foot Southwest Logistics Center valued at more than $30 million at the SM Hentges development site.  SM Hentges opened a new Shakopee service facility on Hentges Way.  Clean Energy purchased the remaining two sites on Hentges Way for a CNG fueling facility and a truck service facility. Both are scheduled to open in 2023.  OPUS development began construction on a 1.2 million square foot industrial park.  Quality Forklift began construction on 12th Avenue along Hwy 169 for its new 100,000 Square foot corporate headquarters, sales and maintenance facility.  Inland Development purchased 26 acres in Dean Lakes along Hwy 169 and began construction on two business park buildings totaling 362,000 SF.  Mesenbrink Construction is constructing a 12,000 square-foot speculative multi-tenant industrial building on Stagecoach Road. Public:  The city completed a master plan and wayfinding signage plan for the Vierling Greenway Trail. Signs are now in production.  Shakopee Public Utilities began construction on a new Electrical Substation on Colburn Dr. off County Road 69 in the West End.  The city completed construction of a new lift station that will serve the West End.  The city in partnership with XCEL Energy completed its first pollinator prairie in Windermere along Highway 169.  A new public restroom building was constructed at Quarry Lake Park and a new playground is currently under construction.  Ridge Creek Park was completed.  Scenic Heights Park renovation was completed.  Jennifer Lane and Timber Trails Parks were built/renovated.  A bicycle / pedestrian bridge over US Highway 169 from the Southbridge neighborhood to Quarry Lake Park is now under construction. Major Initiatives The city completed an Alternative Urban Area Review (AUAR) for the Southern End of Shakopee. This area is almost 450 acres and will have more than 1,000 homes at build out. The city is finalizing plans for a complete reconstruction of the city’s outdoor pool, SandVenture, to create a new year-round facility.

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