2021 Year in Development
2021 was a record year for building activity in Rosemount. The total permit valuation for new projects hit a record $146 million dollars, an almost 40% increase from 2020’s $105 million valuation. Both residential housing and commercial/industrial projects showed significant increases in activity.
The private sector invested a record amount in to new business and development. Commercial and industrial projects were the leading driver increased permit valuation in 2021, which represents a shift from a historically residential lead market. Commercial and Industrial permits rose from 17 in 2020 to 23 in 2021, and total valuation increased from $8 million to $43 million, a 435% increase. Major projects broke ground in the Rosemount Business Park and strong commercial and industrial demand is expected to continue into 2022.
Housing remained the largest sector of activity and housing valuations broke $100 million for the first time, representing a 10% increase over 2020. Single family homes lead the way in permits issues, with a record 226 units in 2021, up from 155 in 2020. 2021 saw the addition of 340 total housing units added between single family (226), townhome (82) and multifamily developments (32). Housing development in Rosemount has dramatically increased year over year since 2010 when 80 units of was brought online. Total actively for all permits citywide increased from 1,415 to 2,219.